Delinquency rate decline was seen across all three agencies. 

The performance of loans in agency mortgage-backed securities improved significantly in the first quarter of 2023 after three quarters of rising delinquencies, according to a new analysis by Inside Mortgage Trends. As of the end of March, 2.38% of loans in Fannie Mae, Freddie Mac and Ginnie Mae MBS were in some state of delinquency, a 43-basis-point drop from the fourth quarter of 2022. The decline was seen across all three agencies. The improvement came in the less-severe categories of default. Delinquencies in loans classified as 30-59 days past due dropped to 1.16% from 1.46%. The default rate for loans 60-89 days past due declined from 0.43% to 0.34% at the end of March. The delinquency rates for mortgages in the serious category (90-119 days past due) also fell slightly to 0.17% from 0.22%.

Source: Inside Mortgage Finance