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Fannie Mae: Mortgage Serious Delinquency rate declined in August, Lowest since April 2008

Fannie Mae reported today that the Single-Family Serious Delinquency rate declined in August to 1.24%, down from 1.30% in July. The serious delinquency rate is down from 1.62% in August 2015.These are mortgage loans that are "three monthly payments or more past due or in foreclosure". This is the lowest rate since April 2008.The Fannie Mae serious delinquency rate peaked in February 2010 at 5.
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