As a result of the coronavirus (COVID-19) crisis, many people worldwide faced job insecurity and income disruption. For mortgage borrowers in the United States, this means increased risk of delayed loan repayment, default and foreclosure.
In April 2020, the share of single-family housing mortgages owned by Freddie Mac that were in forbearance and delinquent for 30 days spiked to 44 percent. One year later, as of April 2021, approximately 20 percent of the mortgage loans in forbearance were delinquent for over 180 days.
Development of Freddie Mac single-family housing mortgages in forbearance in the United States from December 2019 to April 2021, by mortgage status
Freddie Mac is a public government-sponsored enterprise which buys mortgages on the secondary market and sells them as mortgage-backed securities.
The source adds the following information: "the population includes all loans that have entered into a forbearance plan within 12 months since March 2020. Please note that we have updated two things: 1) Event start date is changed to March 2020 instead of using FEMA declared date of Jan 2020. 2) Logic is updated to include all forbearance loans instead of limiting the population to only delinquent loans in forbearance. "
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Freddie Mac. (May 30, 2021). Development of Freddie Mac single-family housing mortgages in forbearance in the United States from December 2019 to April 2021, by mortgage status [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1200844/share-of-mortgages-in-forbearance-and-delinquency-usa-by-status/
Freddie Mac. "Development of Freddie Mac single-family housing mortgages in forbearance in the United States from December 2019 to April 2021, by mortgage status ." Chart. May 30, 2021. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1200844/share-of-mortgages-in-forbearance-and-delinquency-usa-by-status/
Freddie Mac. (2021). Development of Freddie Mac single-family housing mortgages in forbearance in the United States from December 2019 to April 2021, by mortgage status . Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1200844/share-of-mortgages-in-forbearance-and-delinquency-usa-by-status/
Freddie Mac. "Development of Freddie Mac Single-family Housing Mortgages in Forbearance in The United States from December 2019 to April 2021, by Mortgage Status ." Statista, Statista Inc., 30 May 2021, https://www.statista.com/statistics/1200844/share-of-mortgages-in-forbearance-and-delinquency-usa-by-status/
Freddie Mac, Development of Freddie Mac single-family housing mortgages in forbearance in the United States from December 2019 to April 2021, by mortgage status Statista, https://www.statista.com/statistics/1200844/share-of-mortgages-in-forbearance-and-delinquency-usa-by-status/ (last visited November 21, 2024)
Development of Freddie Mac single-family housing mortgages in forbearance in the United States from December 2019 to April 2021, by mortgage status [Graph], Freddie Mac, May 30, 2021. [Online]. Available: https://www.statista.com/statistics/1200844/share-of-mortgages-in-forbearance-and-delinquency-usa-by-status/
