Freddie Mac reported that the Single-Family serious delinquency rate in September was 0.67%, down from 0.70% August. Freddie’s rate is down year-over-year from 1.46% in September 2021.
Freddie’s serious delinquency rate peaked in February 2010 at 4.20% following the housing bubble and peaked at 3.17% in August 2020 during the pandemic.
These are mortgage loans that are “three monthly payments or more past due or in foreclosure”.
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Mortgages in forbearance are being counted as delinquent in this monthly report but are not reported to the credit bureaus.
The serious delinquency rate was at 0.60% just prior to the pandemic – almost back to that level.
Note that multi-family delinquencies have been increasing and were at 0.13% in September.