Mortgage Delinquencies Continue to Decline
Mortgages for single-family homes that are 90 days or more delinquent declined for the third consecutive month in February, Freddie Mac reports.
Delinquencies on single-family homes dropped to 3.78 percent in February from 3.82 percent in January. What’s more, delinquencies were lower than the 4.2% rate reported one year ago.
Freddie Mac also reported that it has completed 23,017 loan modifications for the first two months of the year. Loan modifications in February totaled 11,885 and totaled 11,153 in January.
Source: “Freddie Mac: February Mortgage Delinquencies Decline Again,” Dow Jones Business News (March 25, 2011) and “Freddie Mac Reports Drop in Single-Family Delinquencies in February,” LoanRateUpdate.com (March 28, 2011)