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Volume 17 - Number 5

March 10, 2017

Freddie January Delinquencies Reach Lowest Point Since 2008

The number of Freddie Mac mortgages that have fallen seriously delinquent or are in foreclosure dropped below 1 percent in January, the first time in close to a decade. Last week Freddie reported that the rate is significantly below the 3.13 percent rate for the entire mortgage market. The last time it was under 1 percent was in 2008, when it was .93 percent. It peaked at 4.20 percent two years later in 2010. It has gradually come down in subsequent years with the rate falling to 3.25 percent in 2012 and 1.88 percent in 2014. The seriously delinquent rate is for mortgage loans that are three or more monthly payments past due or are in foreclosure.

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Poll

What’s your opinion on how Mick Mulvaney has managed the CFPB since he took over three months ago?

He’s done a good job of paring back the agency’s excesses and we’d like to see more.

35%

I hope he totally dismantles the agency and sends those functions back to the agencies hence they came.

14%

Not bad, but he needs to take his time making additional changes.

12%

We’re totally aghast. He’s gone way too far in protecting the rights of companies not consumers!

39%