Mortgage Delinquencies Stay Low—What It Means for You

The latest numbers from Freddie Mac and Fannie Mae point to continued stability in the housing market, even as some economic headwinds remain.

Freddie Mac reported that its Single-Family serious delinquency rate dipped to 0.59% in March, down from 0.61% in February. That’s a slight increase from 0.52% in March 2024, but still right in line with the pre-pandemic average of 0.60%. For perspective, Freddie’s rate spiked to 4.20% during the fallout of the 2008 housing crash and reached 3.17% in August 2020 during the pandemic.

Fannie Mae showed a similar trend. Their Single-Family serious delinquency rate came in at 0.56% in March, down from 0.57% in February and just above 0.51% this time last year. This is still below the pre-pandemic low of 0.65%, reinforcing the idea that the mortgage market is holding steady.

Why This Matters

Serious delinquency rates are a key indicator of mortgage health. When these rates are low, it means most homeowners are keeping up with their mortgage payments. That’s good news for the broader economy—and especially for buyers and sellers. It signals that we’re not seeing the kind of distress that typically leads to waves of foreclosures or sudden price drops.

For those thinking about buying, refinancing, or tapping into home equity, this data points to a stable lending environment. Mortgage lenders remain confident, and housing fundamentals are strong.

Have questions about what this means for your own home financing plans? I’m always here to help you navigate the numbers and find the right fit for your goals.