St. Louis Refinancing Group

St Louis Mortgage and Real Estate News –

St Louis Mortgage Lending and Customer Financing News: Freddie Mac’s Delinquencies Climb
St Louis Home Mortgage and Commercial Loans | In-House Financing | 314-334-0210 | Floyd Tapia, Commercial Mortgage, Consumer Finance and Lending

Freddie Mac‘s 90-plus day delinquency rate increased for the first time since February, according to the government sponsored enterprise’s monthly summary.

The delinquency rate for single-family residences was 3.82 percent in October, up from 3.8 percent in September according to St Louis mortgage refinancing experts.

The delinquency rate for multifamily properties also increased, up to 0.44 percent in October from 0.35 percent.

However, this is the second consecutive monthly increase in delinquencies on this type of property.

One year ago, the delinquency rate for single-family residences backed by Freddie Mac was 3.65 percent and 0.18 percent for multifamily properties.

That constitutes a 4.6 percent yearly increase in single-family delinquencies from 2009 and a 144.4 percent yearly increase in multifamily delinquencies.

The 2007 vintage accounts for the most delinquencies, as 0.64 percent of these loans are between 60 and 90 days delinquent and 0.95 percent are more than 90-days delinquent.

A total of 12,763 loans originated in 2007 are delinquent on Freddie Mac’s books.

Freddie Mac’s weekly mortgage rate survey indicated the rate for a 30-year fixed-mortgage rate increased for the first time in two months, up to 4.39 percent.

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In-House Financing, Consumer Lending and Customer Financing

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