The Week Ahead: An Eye on Mortgage Performance

first_img The Week Ahead: An Eye on Mortgage Performance About Author: Seth Welborn  Print This Post in Daily Dose, Featured, Investment, News Previous: Fed Chair Responds to Coronavirus Fears Next: Planet Home Lending Hires Servicing Platform SVP Subscribe The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Tagged with: HOUSING mortgage Demand Propels Home Prices Upward 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily center_img This week, Freddie Mac will be releasing its latest Primary Mortgage Market Survey, a measure of changes in rates both month-over-month and year-over-year. Recently, a report by Markets Insider revealed the growing virus has caused mortgage rates to continue their downward slide. The report found the average rate for a 30-year fixed-rate mortgage hit 3.34%.The yield on the 30-year US Treasury bond was still at 1.8%, a record low, while the 10-year yield fell to 1.37%, its lowest since 2012.Realtor.com’s Chief Economist Danielle Hale said that there is limited knowledge on the Coronavirus, as well as its “human and economic impacts.”“There have been periods when it seemed that the virus might be relatively contained as with the SARS outbreak many years ago,” Hale said. “New information suggests that COVID-19 may be more easily spread and thus will have more wide-spread impacts. But we are still learning, and as we learn more, markets will adjust to price-in this new information.”Additionally, according to Freddie Mac, the single-family serious delinquency rate fell 3 basis points to 60 in January. Freddie Mac’s maximum exposure to Fannie Mae-issued collateral included in Freddie Mac-issued resecuritizations was $30.4 billion.Delinquency on mortgage loans through Freddie Mac consistently fell through 2019. The delinquency rate for mortgage loans was at 0.86% in January 2019 and ended the year at 0.79%.Black Knight’s January 2020 look at mortgage data found the national delinquency rate fell to 3.22%. Delinquencies fell more than 5% month-to-month in January and are down 14.17% over the year.While loan delinquencies are on a downward trend, foreclosure starts rose in January by 8.35%. However, they are 14.74% down on an annual basis.The foreclosure rate charted a barely perceptible increase of just 0.41% over the month of January as 1,000 properties slipped into foreclosure. The national foreclosure rate now stands at 0.46% of all mortgage loans outstanding. Despite the slight increase in January, the rate is down 9.24% from a year ago.Here’s what else is happening in The Week Ahead:Construction Spending (March 2)Unemployment Rate (March 6) February 28, 2020 1,674 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago HOUSING mortgage 2020-02-28 Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / The Week Ahead: An Eye on Mortgage Performance Servicers Navigate the Post-Pandemic World 2 days ago Related Articleslast_img read more