We’ll add more market news briefs throughout the day. Check back to read the latest.
Most recent market newsMonday, October 10
CoreLogic Loan Performance Insights July 2017 Update
Corelogic Chief Economist Frank Nothaft said in the report, “Even though delinquency rates are lower in most markets compared with a year ago, there are some worrying trends. For example, markets affected by the decline in oil production or anemic job creation have seen an increase in defaults. We see this in markets such as Anchorage, Baton Rouge and Lafayette, Louisiana where the serious delinquency rate rose over the last year.”
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CoreLogic Housing Credit Insights Q2 2017 Update
Corelogic Chief Economist Frank Nothaft said in the report, “Mortgage risk for new originations increased modestly in the second quarter of 2017, but much of this rise was due to a small shift in the mix of loan types to more investor and condominium loans, which have slightly higher risk attributes. Despite the somewhat higher risk of new origination loans, purchase mortgage underwriting remains relatively clean with an average credit score of 745 and low delinquency risk.”
Mortgage Bankers Association (MBA) Mortgage Credit Availability Index
“Mortgage credit availability increased in September due to continuing updates to conforming loan programs as well as agency jumbo programs that have been phased in over the last few months,” said Lynn Fisher, MBA’s Vice President of Research and Economics. “For the year to date, the supply of credit has increased only modestly in the non-jumbo space while it has expanded significantly among jumbo programs.”
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