Early
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 […]
Early Q2 GDP Forecasts: 10%
From Goldman Sachs: We launched our Q2 GDP tracking estimate at +10.5% (qoq ar) . [Apr 30 estimate] emphasis added From the NY Fed Nowcasting Report The New York Fed Staff Nowcast stands at 5.3% for 2021:Q2 . [Apr 30 estimate] And from the Altanta Fed: GDPNow The GDPNow model estimate for real GDP growth […]
Serious Delinquencies Set Records as Early Rates Trend Down
Extremely serious delinquencies, those loans 150 days or more past due, reached historically high levels in August. Five months into the COVID-19 crisis, Corelogic said the rate of delinquencies among those loans spiked to 1.2 percent, the highest level since at least January 1999, which we assume is the limit of the company’s records. CoreLogic […]