Friday, October 23, 2009

Freddie Mac's Delinquency Rate Rises for 29th Month (FRE)

UPDATE: See post immediately above "Fannie Mae, Freddie Mac critics form lobbying group (FNM; FRE)".
Original post:
It appears a trend is emerging. From the UPI:
Freddie Mac's mortgage delinquency rate for its single family mortgages rose for the 29th straight month in September, reaching a record 3.33 percent of its portfolio.
The steadily increasing percentage of delinquent loans in Freddie Mac's—delinquencies have been growing .20 percent each month—mirrors the continued growth of delinquencies throughout the housing sector.

Fannie Mae's delinquency rate on single family mortgages jumped 0.23 percentage points to 4.17 percent in July, the most recent delinquency data the company has reported. The July rate was higher than it has been in the 11 years A year ago July [sic], the delinquency rate was 1.45 percent....MORE