Real estate daily market update: January 23, 2018

 We’ll add more market news briefs throughout the day. Check back to read the latest.

Most recent market news

Tuesday, January 23

Black Knight’s First Look at December 2017 Mortgage Data: 90-Day Delinquencies Jump Again as Hurricane Fallout Continues

  • 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

Bankrate Mortgage Rates

  • The average 30-year fixed-rate mortgage increased 2 basis points to 4.20 percent.

Source: Bankrate

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