by Calculated Risk on 1/27/2017 02:58:00 PM

Freddie Mac reported that the Single-Family serious delinquency rate in December was at 1.00%, down from 1.03% in November.  Freddie's rate is down from 1.32% in December 2015.

Freddie's serious delinquency rate peaked in February 2010 at 4.20%.

This is the lowest serious delinquency rate since June 2008.

These are mortgage loans that are "three monthly payments or more past due or in foreclosure". 

Click on graph for larger image

Although the rate is declining, the "normal" serious delinquency rate is under 1%.

Maybe the rate will decline another 0.25 percentage points or so to a cycle bottom, but this is pretty close to normal.

Note: Fannie Mae will report soon.