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Freddie Mac: Multifamily Delinquencies Edge Up in May; Single-Family Rate Dips
Last update: 6/26/2012 8:54:19 AM

By Melodie Warner

Mortgage delinquencies on multifamily homes continued to rise in May from April, while single-family home delinquencies declined, according a monthly report from Freddie Mac (FMCC).
Multifamily delinquencies rose to 0.26% in May from 0.25% in April while delinquencies on single-family homes slipped last month to 3.5% from 3.51% in April.
Freddie Mac's report also showed that its total mortgage portfolio dropped at an annualized rate of 9.4% in May to $2.016 trillion.
Mortgage financier Freddie Mac and sister company Fannie Mae (FNMA) were taken over by the government in 2008 at the height of the credit crisis. Freddie Mac's performance has lately begun to improve as it sets aside less money to cover potential credit losses.
Write to Melodie Warner at [e-mail]
(END) Dow Jones Newswires
June 26, 2012 08:54 ET (12:54 GMT)