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