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While the nations delinquency rate declined in March, to 4.0 percent from 4.3 percent a year earlier, CoreLogic notes that 21 states and 166 of the largest metropolitan areas experienced small increases in delinquencies on an annual basis. The delinquency rate includes all home loans that are 30 days or more past due, including those in foreclosure. The share of mortgages that were 30 to 59 days past due - considered early-stage delinquencies - was 2% in March 2019, up from 1.8% in March 2018. The March numbers continue a year-long trend i n which the overall delinquency rate each month has been lower than during the 4.7 percent average during the pre-crisis period of 2000 through 2006. Delinquencies tend to be seasonal, and the highest March rate was in 2010 at 11.1 percent. Other measures
Housing News
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While the nations delinquency rate declined in March, to 4.0 percent from 4.3 percent a year earlier, CoreLogic notes that 21 states and 166 of the largest metropolitan areas experienced small increases in delinquencies on an annual basis. The delinq... (read more)
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MBS Commentary
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In the day just past, bonds were primarily concerned with reacting to the Fed announcement, press conference, and updated economic projections. Even though the Fed's median rate forecast for the end of 2019 remained unchanged, the average dropp... (read more)
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Housing News
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Freddie Mac is announcing a new loan program to help address the need for affordable housing and encourage the renovation of older homes. The company says its new CHOICE Renovation loans will "provide homebuyers a flexible choice to purchase a home a... (read more)
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Housing News
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If the rumors about housing in Silicon Valley are true, it is probably hard to recruit new employees if they fear they will have to live in an RV in WalMart's parking lot. Such a situation may have prompted Google to announce a $1 billion commitment ... (read more)
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Mortgage Rate Watch
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Mortgage rates reacted favorably to today's Federal Reserve announcement and press conference--today's key events. But that doesn't mean every lender is in better shape than yesterday. The morning hours saw the bond market (which dictates rates) at w... (read more)
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Rob Chrisman
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“Enable” is such a vague, over-used tech term. The same with “repurpose.” But over the next 10 years Google is going to “repurpose” (aka, re-zone) a lot of land and plans to invest $1 billion to “enable&rdquo... (read more)
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