Shares of Freddie Mac (FRE) fell on Wednesday after the residential mortgage lender said it saw a rise in delinquencies in its mortgage portfolio in November.
The government-sponsored entity said in a report that delinquencies on single-family homes rose to 3.72% from 3.54% in October. That compares to a delinquency rate of 1.52% on single-family homes during the same period a year ago.
The report also said the unpaid principal balance of Freddie Mac’s mortgage-related portfolio fell by an annualized rate of 2.2% in November.
Shares of Freddie Mac fell 4 cents or 2.96% to close at $1.31 on Wednesday. The stock was down another penny in trading after hours.
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