Freddie Mac purchases of mortgage loans and securities fell 9% from March to $47.3 billion in April and the serious delinquency rate on its single-family guaranty portfolio fell below 3% for the first time since the summer of 2009.
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The percentage of single-family loans that are 90 days or more past due fell to 2.91% in April from 3.03% in March, the secondary market agency reported Friday morning. A year ago, Freddie’s serious delinquency rate was 3.51%.
In terms of loan purchases, 76%, or $35.8 billion, involved refinancings and $11.8 billion were streamline and HARP refinancings.
