June 4, 2010

Fannie Mae Delinquency Rate Down

Fannie Mae Delinquency Rate Down

The percentage of past due loans held by the nation’s largest mortgage financier has fallen.

In its monthly summary report just released, Fannie Mae said the serious delinquency rate on single-family mortgages in its portfolio dropped to 5.47 percent in March, down 12 basis points from 5.59 percent in February.

It’s the first time the GSE’s serious delinquency rate has declined since March 2007, when it was a mere 0.62 percent.

Fannie’s sibling is also seeing the downside of the delinquency arrow. Freddie Mac’s serious delinquency rate dropped 7 basis points to 4.13 percent in March, also marking its first monthly decline in three years.

Is this the beginning of a trend that will soon spread through the rest of the industry? Let’s hope so!

Tags: , ,

If you're looking for Cumberland real estate, we can help you with your home search. We also service Lincoln, Smithfield, North Smithfield, Providence and surrounding areas, as well as many communities in Massachusettes, such as Attleboro, North Attleboro, Foxboro, Franklin and Mansfield. To begin searching for Cumberland real estate now, simply click the "Search for Cumberland RI Real Estate" link at the top of bottom of this page.

Like This Article? Please Recommend It To Your Friends!

Buzz Up Digg Mixx
Print