Markets & Economy

Daily market update: May 24, 2017

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

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

Mortgage rates:

News from earlier this week

Tuesday, May 23

4 tips to raise your real estate business’s online profile
As a real estate professional, you know how important it is to get your name in front of prospective clients. With the modern digital world increasingly mobile, the opportunity to create real impact and grow your business is yours for the taking ... READ MORE

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.

Email market reports to press@inman.com.