Mortgage rate for heavy arrears unchanged in December

from Calculated danger on 01/25/2023 16:52:00

Freddie Mac reported that the intense crime fee for single-family properties was 0.66% in December, unchanged from 0.66% in November. Freddie’s rate of interest is down from 1.12% year-on-year in December 2021.

Freddie’s severe crime fee peaked at 4.20% in February 2010 after the housing bubble and peaked at 3.17% in August 2020 through the pandemic.

These are mortgage loans which might be “three month-to-month funds or extra overdue or in foreclosures.”

Fannie Freddie Seriously Defaulting RateClick on on the graphic for a bigger picture

Mortgages in forbearance are counted as overdue on this month-to-month report however are usually not reported to the credit score bureaus.

The intense crime fee was 0.60% simply earlier than the pandemic; it is virtually again to that stage.

Notice that a number of households’ arrears have elevated, standing at 0.12% in December, up from 0.08% in December 2021.