Fannie Mae and Freddie Mac Delinquencies Increase 50% in One Month for Most Credit Worthy Borrowers!

The increase in job losses, cut incomes and too much debt is taking it’s toll on the most credit worthy of borrowers. On April 21, Fannie and Freddie reported delinquencies among this group of homeowners rose fifty percent. The number of "prime borrowers" that are 60+ days delinquent on mortgages owned/guaranteed by Freddie and Fannie rose to 743,686 in Jan 09, up from 497,131 in Dec 08 and almost doubled Oct 08 totals.