Mortgage Delinquency Falls to 13-Year Low
The percentage of the nation's mortgages that were either past due at least a month or in the foreclosure process fell to the lowest level in 12 years. But the outlook is less than stellar.
Builder Confidence Sinks to Nearly 1-Yr Low
As buyer traffic weakened, home builders grew more pessimistic about the new home market. Many continue to worry about the impact from decreasing affordability.
Refi Share Stays at Record Low, Closing Rate Up
As refinances continue to make up the smallest monthly share of mortgage originations during recent years, the closing rate has strengthened, and conventional share has widened.
Purchases Pull Down Mortgage Applications
Loan originators were less busy last week completing mortgage applications on behalf of prospective borrowers thanks to slowing purchase financing. Government share was unchanged, and the jumbo-conforming spread thinned.
Q2 Mortgage Metrics Strong, HELOC Weak
Although quarterly mortgage debt outstanding ascended, home-secured credit lines contracted. As mortgage originations increased, lenders were more restrictive than a year ago.
Home Loan Performance Improves
Serious mortgage delinquency and the foreclosure rate moved lower on a month-over-month basis, while both metrics -- along with the non-current rate -- improved on a year-over-year basis.
|Govt Leads Weekly Mortgage Business Up|
After retreating for three consecutive weeks, new mortgage business turned higher. Government business surged, and government share widened. The jumbo-conforming spread was trimmed.
Mortgage Rates Dip, Could Recede Further
A small decline in mortgage rates this past week could be followed by a slightly larger drop next week. Two indices for adjustable-rate mortgages also moved lower.
Refis Hurt Most from Mortgage Application Downturn
A drop in new mortgage applications was most pronounced with refinances. A week-over-week and year-over-year thinning was recorded for adjustable-rate share.
Post-Crisis High For Mortgage Credit Availability
Credit conditions in home lending were more relaxed last month than at any time since the financial crisis. Out front of the loosening were jumbo mortgages. But government conditions tightened.
Consumer Bankruptcy Filings Slowest in Five Months
A modest reduction in the number of monthly bankruptcies that were filed by U.S. consumers left the pace of filings at its lowest level in five months.