As summarized at the Calculated Risk blog, Fannie Mae reported that seriously delinquent loans – defined as mortgages three or more months overdue, or in foreclosure – were 3.67 percent of all mortgages in March, down from 3.82 percent in February and 4.44 percent in March 2011. The peak was 5.59 percent February 2010.
Freddie Mac – like Fannie Mae, a government-sponsored agency designed to insure mortgages – reported a rate of 3.51 percent, down from 3.57 percent in February and 3.63 percent in March 2011.
The peak for Freddie Mac seriously delinquent loans was 4.2 percent, also in February 2010.
Historically, the seriously delinquent rate is less than 1 percent. This chart, via Calculated Risk, shows the rate dating to January 1998 (click on the image for a larger view):
As a real estate investor, what does this mean to you? Feel free to leave your thoughts: