Housing Finance Agencies are enjoying their highest ratings ever and aren’t facing immediate downgrades even as loan delinquencies rise.

HFA loan delinquency rose to 7.06% in the second quarter, widening the gap between HFAs’ single-family whole loan mortgages and comparable prime state loans to 1.8 percentage points, Standard & Poor’s Rating Services said. It’s the second-largest difference between the portfolio types the ratings service has recorded.

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