MYRTLE BEACH — The serious delinquency rate is at the lowest rate nationwide since 2009, according to information from SiteTech Systems, which tracks the Grand Strand real estate market.
The serious delinquency rate refers to loans that are at least 90 days past due but not yet in foreclosure.
According to SiteTech, Fannie Mae reported the single-family delinquency rates fell to 2.93 percent in April, the lowest level since January 2009. For Freddie Mac, the rate was 2.91 percent in April, the lowest since June 2009.
The Fannie Mae serious delinquency rate peaked at 5.59 percent and at 4.20 percent for Freddie Mac, both in February 2010.