We’ll add more market news briefs throughout the day. Check back to read the latest.
Most recent market news
Tuesday, 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 week
Monday, January 22
- The average 30-year fixed-rate mortgage increased 2 basis points to 4.20 percent.
Email market reports to press@inman.com.