by Calculated Risk on 1/27/2020 04:34:00 PM

Freddie Mac reported that the Single-Family serious delinquency rate in December was 0.63%, up from 0.62% in November. Freddie's rate is down from 0.69% in December 2018.

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

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

Click on graph for larger image

I expect the delinquency rate to decline to a cycle bottom in the 0.4% to 0.6% range - so this is close to a bottom.

Note: Fannie Mae will report for December soon.