Mortgage delinquency rates slowing

New York /
Jun.June 08, 2010 02:45 PM

Home mortgages insured by the Federal Housing Administration are falling into delinquency at a slower rate than they have in the past, a trend that could eventually help the agency avoid a taxpayer bailout, according to the Wall Street Journal. In April, nearly 8.5 percent of loans backed by the agency were 90 days or more past due. While that was still higher than a year earlier, April marked the third consecutive month in which delinquencies declined, after peaking at 9.4 percent in January. The FHA figures come amid other signs that mortgage delinquencies may have plateaued. The number of loans that were 90 days or more past due at Fannie Mae and Freddie Mac fell in March for the first time in three years. Last month, the Mortgage Bankers Association said nationally, the number of loans that were 90 days or more past due fell to 9.54 percent at the end of March, from 9.67 percent at the end of 2009. [WSJ]

 

Related Articles

arrow_forward_ios
Borrowers can now get a 30-year fixed-rate jumbo mortgage for $2 million at 2.65%. (iStock)
Jumbo mortgage lenders invade Fannie and Freddie’s turf
Jumbo mortgage lenders invade Fannie and Freddie’s turf
Refinances made up 60 percent of all applications, up slightly from 59.2 percent the previous week. (iStock)
Mortgage rates dip, triggering surge in loan requests
Mortgage rates dip, triggering surge in loan requests
Freddie Mac’s economists said the slowdown will be caused by a hike in mortgage rates and limits on housing supply. (iStock)
Fannie, Freddie say housing market could see slight hiccup
Fannie, Freddie say housing market could see slight hiccup
New Fannie Mae and Freddie Mac restrictions mean higher mortgage rates for some. (Unsplash)
Mortgage rates on second homes rise as Fannie, Freddie pull back
Mortgage rates on second homes rise as Fannie, Freddie pull back
Meridian Capital Group CEO Ralph Herzka, Former Freddie Mac CEO David Brickman and  Barings CEO Mike Freno (Herza by Studio Scrivo; Brickman by Freddie Mac; Freno via Barings)
Ex-Freddie Mac boss looks to become top agency-backed CRE lender
Ex-Freddie Mac boss looks to become top agency-backed CRE lender
Former Freddie Mac CEO David Brickman and Meridian Capital Group CEO Ralph Herzka (Freddie Mac; Herza by Studio Scrivo)
Ex-Freddie Mac CEO launching lending platform with Meridian, Barings
Ex-Freddie Mac CEO launching lending platform with Meridian, Barings
Treasury Secretary Steven Mnuchin with Donald Trump. (Getty)
Treasury quits bid to privatize Fannie Mae, Freddie Mac
Treasury quits bid to privatize Fannie Mae, Freddie Mac
FHFA director Mark Calabria (Getty; iStock)
Federal housing agency extends forbearance options for multifamily landlords
Federal housing agency extends forbearance options for multifamily landlords
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...