Tuesday, February 17, 2009

Freddie Mac Mortgage Delinquency Rate More than Doubles from 2005 to 2008

According to data from Freddie Mac it saw delinquency rates on single family more than double from 2005 to 2008. Total Single-Family home mortgage delinquency rate (3+ months behind or in foreclosure) for Freddie Mac mortgages was 1.72% in December 2008, and rose more than 100 basis points in 2008.

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The delinquency rates for Freddie Mac mortgages with Private Mortgage Insurance (PMI) or other credit enhancements was 3.79% in December 2008---Up over 200 basis points in 2008.

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