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Forbearances Ending at a Faster Pace

70% of Freddie's Portfolio Suggests Refis Aren't Dead

FHFA's Official Report on Q2 Mortgage Relief Numbers

New Home Sales Crush Forecasts, Soaring to 14-Year Highs

Serious Delinquencies Grow, but Fewer Overall Missed Payments...

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Forbearances Ending at a Faster Pace; Rates Drift Lower; Refi Market Still Hot

Published: 9/25/2020

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MND NewsWire features plain and simple interpretations of industry related data and events written in a manner that maintains the interest of random readers while still catering to the perspective of a housing market professional.

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Forbearances Ending at a Faster Pace

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by Jann Swanson on September 25 2020, 9:50 AM

Black Knight said its weekly forbearance survey found the number of mortgages in active forbearance decreasing at an accelerated rate. Those mortgages fell by 2.6 percent or 95,000 loans over the last week, bring the decline over the last month to 357...
70% of Freddie's Portfolio Suggests Refis Aren't Dead

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by Jann Swanson on September 25 2020, 8:51 AM

Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 27.7 percent in August compared to a 20.0 percent gain in July. The portfolio balance at the end of the period was $2.533 trillion compared to $2.476 trillion...
FHFA's Official Report on Q2 Mortgage Relief Numbers

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by Jann Swanson on September 24 2020, 3:01 PM

In its 2 nd quarter Foreclosure Prevention and Refinance Report the Federal Housing Finance Agency (FHFA) says it has helped almost 4.7 million distressed homeowners since it became conservator of the GSEs Fannie Mae and Freddie Mac in August 2008. Over...
New Home Sales Crush Forecasts, Soaring to 14-Year Highs

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by Jann Swanson on September 24 2020, 10:37 AM

Once again new home sales exceeded expectations, this time by a lot. Sales of newly built homes rose 4.8 percent in August, to a seasonally adjusted annual rate of 1.011 million. That puts sales an astounding 43.2 percent higher than they were the previous...
Serious Delinquencies Grow, but Fewer Overall Missed Payments in August

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by Jann Swanson on September 23 2020, 3:56 PM

As the COVID-19 crisis dragged into its sixth month in August the total number of mortgage delinquencies continued to ebb, but the rate of decline appears to be slowing. Black Knight, in its first look at the month's loan performance data, found the national...
Ending Fannie/Freddie Conservatorship Still a Top Priority for FHFA

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by Jann Swanson on September 23 2020, 12:38 PM

Mark Calabria, Director of the Federal Housing Finance Agency (FHFA) is stepping up his agency's actions to spring Fannie Mae and Freddie Mac (the GSEs) from their decades long federal receivership. Most recently he called on the mortgage industry to...
FHFA Says 2-Month House Price Gain was Largest Ever

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by Jann Swanson on September 23 2020, 9:49 AM

Home prices rose another 1.0 percent in July, bringing the year-over-year gain to 6.5 percent according to the House Price Index (HPI) produced by the Federal Housing Finance Agency (FHFA). The agency also revised its previously reported 0.9 percent price...
Mortgage Application Gains Resumed Post-Labor Day, Forbearances at Recent Lows

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by Jann Swanson on September 23 2020, 8:42 AM

Mortgage application activity rebounded last week from the previous week's Labor Day holiday lull. The Mortgage Bankers Association's (MBA's) Market Composite Index, a measure of mortgage loan application volume, increased 6.8 percent on a seasonally...
Home Sales Surge to Best Levels in 14 Years

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by Jann Swanson on September 22 2020, 10:49 AM

Existing home sales continued on a roll for the third consecutive month, hitting the highest level in August since December 2006. The National Association of Realtors® (NAR) said sales of pre-owned single-family houses, townhomes, condos, and cooperative...
Homeowner Equity Surged in Q2

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by Jann Swanson on September 21 2020, 1:25 PM

There was another big surge in the amount of equity on the balance sheets of American homeowners in the second quarter of this year. CoreLogic reports that the 4.3 percent gain in home prices over the past year sent home equity shooting up by 6.6 percent...
Fannie's Forecast Sees a Brightening Recovery

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by Jann Swanson on September 21 2020, 10:47 AM

Fannie Mae has upgraded its forecast for the third quarter gross domestic product (GDP). It now expects growth at an annualized pace of 30.4 percent , up from the 27.2 percent the company's economists predicted in August. They say that growth has clearly...
Fewer Homes Being Flipped, But Profits Are Up

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by Jann Swanson on September 18 2020, 8:52 AM

One out of every 15 home sales in the second quarter of the year were defined as "flips" by ATTOM Data Solutions. A flip is any arms-length transaction that occurred in the quarter where a previous arms-length transaction on the same property had occurred...
Forbearance Plan Count Continues to Shrink

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by Jann Swanson on September 18 2020, 9:57 AM

There was a fourth straight decline in the number of mortgage loans in forbearance during the week ended September 15. Black Knight says the total dropped by 26,000 or 0.7 percent to an estimated 3.7 million loans. That is down 22 percent from the peak...
Refis Increased Slightly in August, FICO Scores Highest This Year

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by Jann Swanson on September 17 2020, 12:44 PM

The refinance share of loans originated in August rebounded slightly from July levels as interest rates fell to the lowest in Ellie Mae's history. The company's Origination Insight Report says the average rate on all loans fell to 3.09 percent during...
Pace of Construction Slows after Three Busy Months

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by Jann Swanson on September 17 2020, 9:59 AM

Residential construction activity took a breather in August. The U.S. Census Bureau and the Department of Housing and Urban Development reported this morning that all three measures, housing permits, starts, and completions, were lower than their unexpectedly...

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