Early State Delinquencies Drop Below Pre-COVID Levels
The nation’s mortgage delinquency rate is inching closer to its pre-pandemic level as early stage delinquencies improve. CoreLogic says that in March of this year 4.9 percent of all mortgages were 30 days or more past due, including loans in foreclosure. This is the lowest rate since March 2021, the month the pandemic hit, and […]
Forbearances Tumble; Mortgage Profits Break 2008’s Record; Locking/Floating After Jobs Report
The number of loans in forbearance declined sharply over the course of the past week. Black Knight said the number of homeowners exiting their plans jumped to the highest level in four weeks due to end-of-May expirations. There were also noticeable declines in the number of borrowers returning to the program as well as new […]
Instant Reaction: Jobs, June 4, 2021
The job market continues to make progress with 551,000 net new additions in May. Another 7 million jobs are still needed to get us back to pre-pandemic conditions. www.nar.realtor – Research
Bonds Move to Sidelines Ahead of Jobs Report; Rate Volatility Risks; Census Bureau on Home Features
Mortgage rates were higher again today with multiple lenders making additional upward adjustments in the middle of the day in response to bond market volatility. The prices/yields of certain bonds are the primary building blocks for lenders as they determine where to set mortgage rates every day. Bonds respond to a variety of inputs, with […]
Cheaper Rents and Migration in Secondary Markets Boosting Demand for Tech, Finance, and Medical Office Space
Secondary cities are seeing a modest increase in office occupancy in the first quarter of 2021 because they offer less expensive office rent compared to nearby major markets. www.nar.realtor – Research
Pasadena Educational Foundation REALTOR® Initiative
Check out this innovative program created to equip REALTORS® with current public school information and to become active ambassadors for local public schools. www.nar.realtor – Fair Housing
Highest Inflation in Decades, But Housing Has a Bigger Problem
Posted To: Mortgage Rate Watch Inflation is bad for interest rates and it’s at the highest levels in decades. But the housing market has a far bigger problem. Actually, it’s not hard for a problem to become bigger than rates right now considering we’re still at levels that would have been record lows at any […]
Non-Government Loans See Jump in Forbearances; Huge Inflation, But Here’s Housing’s Bigger Problem
The forbearance numbers increased again over the past week although Black Knight, in its weekly report, said these mid- to late-month upticks are becoming common . The number of mortgages in active plans rose by 16,000 or 0.73 percent. The number of Fannie Mae and Freddie Mac loans in forbearance declined by 1,000 but that […]
Fed’s Kaplan cites real estate excesses as one reason to start tapering purchases
Dallas Federal Reserve President Robert Kaplan cited potential excesses in the housing market as an indication that the central bank should start tapering….(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it. Around The Web
Freddie Mac Business Activity Slowed in April
Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 13.2 percent in April compared to a 27.2 percent gain in March. The portfolio balance at the end of the period was $ 2.785 trillion compared to $ 2.927 trillion the prior month and $ 2.434 trillion a year […]