Freddie Mac (FMCC)

[navycmdr]

Delinquencies on Agency MBS Decline in First Quarter

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Delinquency rates were down for all three government agencies and in every late payment category as of the end of the first quarter of 2024, according to a new analysis by Inside Mortgage Trends of loans in agency mortgage-backed securities.

The overall delinquency rate across all three agencies declined 36 basis points in the first quarter to 2.78%.

The default rate for loans in Fannie Mae and Freddie Mac MBS dropped to 1.20% at the end of March, down from 1.37% at the end of December.

Some 6.97% of loans in Ginnie Mae MBS were in default at the end of March, down from 7.90% in the previous quarter. Both FHA and VA saw overall declines in late payments during the first quarter.