HousingWire reports good news from Fannie Mae. The serious delinquency rate dropped to 4%, the lowest level since June 2009. This is a promising sign. If we can start seeing this trend continue we may be on our way to housing market recovery.
The serious delinquency rate on mortgages backed byFannie Mae dropped to 4%, the lowest level since June 2009.
The rate fell every month since the 5.59% peak in February 2009 except for July when it went unchanged. Fannie said the rate fell 3 basis points from August.
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