FHA’s Delinquency Rate Falls to 8.5%

It looks as though escalating past due mortgages may be a thing of the past for the Federal Housing Administration (FHA). The federal mortgage insurer’s delinquency rate dropped again in April, marking the third straight month of declines.

According to FHA’s latest operations report, as of April 30, 527,504 mortgages had spent at least 90 days in a delinquent status, yielding a serious default rate of 8.5 percent. That’s down from 8.8 percent in March and 9.2 percent in February.

The FHA is not the only government-backed mortgage business to see its delinquencies drop off. Fannie Mae said last week that the percentage of its loans 90 or more days past due dropped 7 basis points to 5.47 percent, while…

Read the rest of DSNews.com’s article here.

Renee West
Connect on

Renee West

Broker Associate at Villa Real Estate
I'm a real estate broker associate in Newport Beach & Corona del Mar, CA, with Villa Real Estate.
Contact me at (714) 914 9060 or rwest@villarealestate.com for all your real estate wants and needs.
Renee West
Connect on
Facebook Twitter Email Linkedin Stumbleupon Digg Delicious Yelp

Leave a Reply