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Mortgage delinquencies spiked in June and the serious delinquency rate, loans 90 or more days past due but not in foreclosure, reached its highest level in more than five years. CoreLogic in its monthly loan performance report, said 7.1 percent of all mortgages nationwide were at least 30 days past due, including those in foreclosure. This is 3.1 percentage points higher than the delinquency rate in June 2019. Further, the company predicts that, barring additional government programs and support, serious delinquency rates could nearly double from the June 2020 level by early 2022. Not only could millions of families potentially lose their home, through a short sale or foreclosure, but this also could create downward pressure on home prices - and consequently home equity - as distressed sales
Rob Chrisman
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On one hand we have the old adage, “No tree grows to the moon.” On the other hand, MLOs and real estate agents are licking their chops given that 52 percent of young adults live with their parents . What does that tell you about the deman... (read more)
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Housing News
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Mortgage delinquencies spiked in June and the serious delinquency rate, loans 90 or more days past due but not in foreclosure, reached its highest level in more than five years. CoreLogic in its monthly loan performance report, said 7.1 percent of al... (read more)
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Mortgage Rate Watch
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Almost everywhere you look, low mortgage rates are in the news. Experts are claiming they'll remain low or move lower for years to come. They might be right! But that doesn't necessarily mean you should wait to refinance or to lock your rate if you'r... (read more)
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Housing News
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The Consumer Financial Protection Bureau (CFPB) has been on a two-month enforcement tear aimed at mortgage lenders employing deceptive practices in the VA mortgage lending area. The Bureau has issued consent orders against six companies since late Ju... (read more)
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Housing News
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The number of homeowners with mortgages in COVID-19 related forbearance plans dropped during the week ended September 1 after several weeks when there was little change. Black Knight said its weekly survey found 147,000 fewer borrowers in plans than ... (read more)
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MBS Commentary
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Stock Market Weakness To The Rescue
Last Friday tied August 11th as the worst day of since early June. It was something the bond market clearly felt needed to happen (weaker stocks were little help).&nb... (read more)
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