Real estate daily market update: January 23, 2018

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 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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