The latest gauge of residential loan production indicates strong quarterly activity. Mortgages outstanding continued to grow as delinquency has moved lower.
As of the third quarter of this year, there were approximately 52.7 million mortgages outstanding with an average unpaid principal balance of $199,417.
That put total outstanding mortgages at around $10.5093 trillion, expanding from roughly 52.3 million loans for $10.1195 trillion as of a year earlier.
Those details were provided in the
Q3 2017 TransUnion Industry Insights Report.
The latest year-over-year increase continued the previous quarter’s growth and reversed a trend of year-over-year declines that had lasted since the fourth-quarter 2014.
Sixty-day delinquency on the nation’s book of business was 1.91 percent at the end of the third quarter, “now reaching the lowest point since the recession.” The rate was down a basis points from
mid-year 2017 and tumbled 38 BPS from the third-quarter 2016.
TransUnion reported that 1.90 million single-family loans were originated during the second quarter of this year. Origination data is reported on a one-quarter lag. Given an average loan amount of $224,502,
total production was approximately $427 billion.
Mortgage originations ascended from 1.49 million loans for around $327 billion in the first quarter. But home lending has slowed from 2.00 million loans for roughly $460
billion in the second-quarter 2016.
Overall first-half
2017 originations amounted to 3.39 million loans for $754 billion.
