Q3 Mortgage Origination Forecast Lifted
Mortgage banking economists have improved their outlook for loan originations during the current quarter. Full-year expectations have risen for three months in a row.
Mortgage Rates Retreat, VA Rates Lowest
An impressive improvement was reported for weekly mortgage rates. On a monthly basis, rates on residential loans for U.S. veterans were the lowest.
Foreclosure Decline Offsets Rise in Mortgage Lates
A slight drop in the foreclosure rate was more than enough to offset a modest bump in mortgage delinquency. Serious delinquency has improved for six consecutive months.
Completed New Construction Highest Since 2007
The volume of building permits was the highest it's been in two years. Even more impressive was completed construction, which soared to the highest level in nearly a decade.
Ginnie MBS Issuance Up Despite Multifamily Slump
Even though apartment loan securitizations slipped last month at the Government National Mortgage Association, overall issuance moved higher.
Mortgage Credit Tightens, FHA Loses Share to VA
Over the past year, there has been a shift in mortgage market share among government programs. Meanwhile, credit conditions contracted from the previous month.
Refinances Drive Up Mortgage Applications
More people completed applications for loans secured by residential properties this past week, and it was refinance activity that drove the increase.
CMBS Lates Soar, Further Deterioration Likely
Delinquency on securitized commercial real estate loans soared more than 20 basis points last month and is expected jump at least 50 BPS more by year-end.
Builder Confidence Deteriorates Again, South Most
For the second month in a row, confidence among the country's home builders weakened. Leading the latest decline were builders in the South.
Serious Mortgage Delinquency Declines
A month-over-month improvement in serious mortgage delinquency was recorded for junior- and senior-lien assets. First mortgage lates also fell from a year earlier.