Mortgage Delinquency Up, Hurricane Impact Begins
While the foreclosure rate eased last month, mortgage delinquency edged higher. Loan performance is beginning to be impacted by hurricane activity.
Refis to Pull Down Mortgage Originations in 2018
Although the annual volume of loans to finance a home purchase are forecasted to grow, a drop in projected refinances will drag down overall activity.
Existing Home Sales Fall to 1-Year Low
It's been a year since the annual rate of existing home sales was as low as it was last month. Hurricane-affected areas are expected to weaken next year.
Lenders Make Riskier Mortgages as Closing Rate Up
Compared to a year ago, home lenders took more risk on mortgages closed last month as government share has widened. Closing ratios and turnaround improved from a month earlier.
Mortgage Applications Retreat From Holiday Week
Mortgage applications slowed from the holiday week, though activity improved when seasonal factors are disregarded. Refinances slowed despite a widening share
MBS Issuance Up at Ginnie Mae
As the Government National Mortgage Association's book of business continued to grow, a month-over-month increase in issuance was recorded.
Mortgage Fraud Risk Rises, Could Climb Higher
A growing share of purchase-money and wholesale lending has helped to push up the risk of mortgage fraud. Also contributing were jumbo refinances.
Apt Permits Soar as 1-Unit Completed Constr Sinks
Permits to build apartment units drove up overall housing permits last month. But completed construction was pulled down by single-family activity.
Serious 1st Mortgage Delinquency Up, Could Worsen
Serious delinquency on first mortgages deteriorated last month, and the recent spate of natural disasters could make things worse. The Big Apple experienced a surge in consumer delinquency.
Credit Unions Grab Mortgage Market Share from Banks
Over the past year, the nation's banks have given up mortgage market share to credit unions. Overall originations were up on a quarter-over-quarter basis.