Mortgage Serious Delinquency Rate Declines in December
Freddie Mac reported on Friday that the Single-Family serious delinquency rate dropped in December to 1.88% from 1.91% the month before.
A seriously delinquent mortgage is one that is “three monthly payments or more past due or in foreclosure.”
Bill McBride, blog writer for Calculated Risk, noted that although the rate is declining, the “normal” serious delinquency rate is under 1%.
Image via flickr/Jeff Turner