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Daily market update: May 24, 2017

05/24/2017

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

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Wednesday, May 24

Black Knight’s First Look at April 2017 Mortgage Data

First-lien mortgage delinquencies rose by 13 percent, the largest monthly increase since November 2008 Month-over-month, the number of borrowers past due on mortgage payments increased by 241,000 April’s delinquency rate increase was primarily calendar-driven (due to both the month ending on a Sunday and March being the typical calendar-year low) and largely isolated to early-stage delinquencies The inventory of loans in active foreclosure continues to decline, hitting a 10-year low in April At just 52,800, April saw the fewest monthly foreclosure starts since January 2005 Prepayment speeds (historically a good indicator of refinance activity) fell by 11 percent from March

Mortgage rates: 30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio News from earlier this week

Tuesday, May 23

First American Financial Corporation April 2017 Potential Home Sales

Potential existing-home sales decreased to a 5.69 million seasonally adjusted, annualized rate (SAAR), a 0.2 percent decline over last month’s revised data. This represents an 89.3 percent increase from the market potential low point reached in December 2008. In April, the market potential for existing-home sales fell by 0.1 percent compared with a year ago, a decline of 5,000 (SAAR) sales. Currently, potential existing-home sales is 674,000 (SAAR), or 11.8 percent below the pre-recession peak of market potential, which occurred in July 2005.

Email market reports to press@inman.com.

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