Delinquencies down in April

by MPA29 May 2014
Mortgage delinquencies were down slightly in April, according to new data released by Freddie Mac.

The seriously delinquent rate for single-family homes decreased from 2.20% in March to 2.15% in April, according to Freddie Mac’s monthly volume summary. Multifamily delinquency was up slightly, moving from 0.4% in March to 0.5% in April.

Freddie’s total mortgage portfolio decreased at an annualized rate of 3% in April. Single-family refinance-loan purchase and guarantee volume in April was $8.8 billion, representing 47% of Freddie’s total single-family mortgage portfolio. Relief refinance mortgages made up about 28% of the portfolio.

The total number of loan modifications reported by Freddie Mac in the month of April was 6,435, bringing the four-month total to 25,063.

Freddie’s mortgage-related securities and other guarantee commitments increased at an annualized rate of 1.6% last month.


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