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Most recent market newsTuesday, January 23
An additional 60,000 mortgages became 90 days delinquent in December, driven by both continued hurricane-related fallout as well as upward seasonal and calendar-related pressures There are now 142,700 90+ days delinquent loans attributed to Hurricanes Harvey and Irma, representing 20 percent of all severely delinquent loans nationwide 102,500 severely delinquent loans in affected areas of Florida and Georgia can be attributed to Hurricane Irma, while another 40,200 are the result of Hurricane Harvey in southeastern Texas Florida has now overtaken Mississippi as the state with the largest share of severely delinquent mortgages The overall delinquency rate (representing loans 30 or more days past due, but not yet in active foreclosure) also rose another 3.47 percent to its highest level since early 2016 December’s 6.54 percent year-over-year rise marked the fourth consecutive month of annual increases to the national delinquency rate Despite the rise in 90-day delinquencies, foreclosure starts hit a post-recession low in December at 44,500 The inventory of loans in active foreclosure continues to improve, falling 152,000 from last year for a 32 percent annual decline Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure):? 4.71% Month-over-month change: 3.47 % Year-over-year change: 6.54% Total U.S. foreclosure pre-sale inventory rate: 0.65% Month-over-month change: -2.22% Year-over-year change: -31.92% Total U.S. foreclosure starts: 44,500 Month-over-month change: -6.90% Year-over-year change: -25.46% Monthly Prepayment Rate (SMM): 0.93% Month-over-month change: -5.57% Year-over-year change: -31.53% Foreclosure Sales as % of 90+: 1.23% Month-over-month change: -23.03% Year-over-year change: -30.96% Number of properties that are 30 or more days past due, but not in foreclosure: ?2,412,000 Month-over-month change: 88,000 Year-over-year change: 164,000 Number of properties that are 90 or more days past due, but not in foreclosure: ?726,000 Month-over-month change: 60,000 Year-over-year change: 44,000 Number of properties in foreclosure pre-sale inventory: ?331,000 Month-over-month change: -6,000 Year-over-year change: -152,000 Number of properties that are 30 or more days past due or in foreclosure: 2,743,000 Month-over-month change: 82,000 Year-over-year change: 12,000 News from earlier this weekMonday, January 22
The average 30-year fixed-rate mortgage increased 2 basis points to 4.20 percent.
Source: Bankrate
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