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.
|FHA Share Sinks as New Mortgage Biz Down|
As new mortgage business fell last week -- government-insured share sank to the most narrow level since last year, the jumbo-conforming spread thinned, and demand for adjustable-rate mortgages tumbled most.
Non-Bank Mortgage Jobs Expand 3 Months in Row
Monthly mortgage job gains continued for the third consecutive month. Among all U.S. industries, jobs data for last month was healthy.
Fixed and ARM Mortgage Rates Rise
Across the board, interest rates on residential loans moved higher this past week. Also rising were indices on adjustable-rate mortgages.
Monthly HECM Endorsements Up From Decade Low
As federally insured reverse mortgage production had a moderate bounce off decade-low monthly volume, the biggest originators retreated again.
Industrial Leads CMBS Delinquency Down
Led by industrial properties, securitized commercial real estate loans saw stronger monthly performance. Apartment delinquency, however, worsened.