Mortgage Delinquencies Rise Slightly in April
The monthly mortgage report for April was released today by Freddie Mac. The report notes a rise of just 0.01% in delinquent mortgage payments for single-family homes and a rise of 0.03% on mortgages for multi-family homes. The April delinquency rate for single-family homes is 2.81%. For multi-family homes the rate is 3.51%.
Freddie Mac also noted a -14.1% annualized drop in the size of its mortgage portfolio to $2.03 trillion. That’s the largest decline by far in the past 12 months and represents a nearly 5x reduction over the March annualized rate drop of -2.9%.
Freddie Mac was taken over by the federal government in September 2008 and has been operating ever since as a conservatorship.
The mortgage volume study is available here.