Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Real estate daily market update: October 10, 2017

10/11/2017

Download PDF

We’ll add more market news briefs throughout the day. Check back to read the latest.

Most recent market news

Monday, October 10

CoreLogic Loan Performance Insights July 2017 Update

The U.S. foreclosure rate remains at a 10-year low as of July, but the rate across the largest the 100 largest metros varies from 0.1 percent (Denver) to 2.2 percent (New York). Overall mortgage delinquency rate fell to 0.9 percentage points year over year. Early-stage delinquencies declined 0.3 percentage points year over year. As of July 2017, the foreclosure inventory rate was 0.7 percent, down from 0.9 percent in July 2016.

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.”

How agents dominate with multichannel content marketing Win listings and overwhelm competition by mastering the art of social media, direct mail and email READ MORE

CoreLogic Housing Credit Insights Q2 2017 Update

Purchase mortgage loans are still high quality in terms of credit risk. In Q2 2017, the HCI increased to 117, up 20 points from Q2 2016. Even with this increase, the level of credit risk in Q2 2017 is still within a range of the HCI for the period of 2001 to 2003. The investor share of home-purchase loans increased from 3.6 percent in Q2 2016 to 4.2 percent in Q2 2017. The share of home-purchase loans secured by a condominium or a co-op building increased from 9.6 percent in Q2 2016 to 11.1 percent in Q2 2017, making loans appear riskier. Applications in the lower credit score range are almost non-existent in 2016 when compared to 2006. Applicants may be “self-removing” themselves from the applicant pool. This may explain some of the decline in new-loan credit risk. The average credit score for homebuyers increased 9 points year over year between Q2 2016 and Q2 2017, rising from 736 to 745.

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

The MCAI increased 0.7 percent to 181.4 in September. Credit availability for conforming and conventional loans saw the greatest increase in September (both were up 1.5 percent. Credit availability for jumbo loans increased 1.4 percent while credit availability for government loans increased 0.2 percent. Of the four component indices, the Conforming MCAI and the Conventional MCAI saw the greatest increase in availability over the month (both up 1.5 percent), followed by the Jumbo MCAI (up 1.4 percent) and then the Government MCAI (up 0.2 percent).

“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.”

Email market reports to press@inman.com.

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • New York City’s rent stabilization laws are easily exploitable, NY Times reports

    Weak rent stabilization laws in New York City are ripe to be exploited, a new piece published in ...

  • Buyers are giving up the search for that perfect starter home

    According to Trulia’s latest market analysis, homebuyers and sellers are finally seeing eye-to...

  • eXp Realty starts trading on Nasdaq as EXPI

    Virtual brokerage eXp Realty is set to start trading on the Nasdaq Monday morning under the ticker E...

  • How we as an industry can become more accountable and transparent

    At Inman Disconnect, a group of industry leaders got together and addressed a number of leading rea...

  • Inman Select shows my team what we’re not doing — and what we should be doing

    Inman Select was launched to provide real estate agents and brokers with a reliable, specific source...

  • Agent NEO is making voice-activated internet work for agents

    Agent NEO is software for real estate agents to use in conjunction with voice-activated internet app...

  • Being loud doesn’t make you right: 3 ways to be heard

    I am half-Greek and half-German, and when I communicate about something I’m passionate about, ther...

  • Do real estate agents need to pay attention to cryptocurrency?

    Cryptocurrency is a hot topic in the investing world, and it has introduced people to alternative me...

  • How to give listing feedback tactfully — even when it’s negative

    We’ve all had those showings where the timing (or the seller) just wasn’t quite right. You know,...

  • Lesson learned: Why you truly have to get to know your clients

    With a focus on Battery Park City, Barbara Ireland creates a client-focused process that keeps peopl...

May 2018
Mon Tue Wed Thu Fri Sat Sun
« Apr    
 123456
78910111213
14151617181920
21222324252627
28293031  

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...