Five Brothers

Delinquencies Down Again at Freddie Mac

Kristin Campbell


Freddie Mac (NYSE: FRE) is reporting in its June monthly volume summary released today that its total delinquencies went down from April to May.  According to the report, 0.53 percent of all single-family loans in May were 90-days or more delinquent or in foreclosure, down from 0.56 percent in April.  The single family delinquency rate has been dropping steadily since its recent peak of 0.69 percent in December of 2005.

In terms of basis points, the report showed that the single-family non-credit enhanced delinquency rate was 23 basis points down in May, down from 24 basis points in April.

Freddie Mac declined to specify what percentage of delinquent mortgages were subprime or prime.

Freddie Mac’s total mortgage portfolio increased at an annualized rate of 8.9 percent year-to-date and 10.3 percent in June, with a balance of $1.76 trillion at the end of June.  Meanwhile, its retained portfolio increased at an annualized rate of 3.4 percent but decreased in June at an annualized rate of 1.4 percent to $722 billion.

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