Your best borrower demographic for 2019? Tune in and see….
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Mortgage delinquencies surged higher in the third
quarter of 2017. Most of the increase came in the early stages of
non-performance, and much of it appeared to be driven by the late summer
hurricanes. The Mortgage Bankers
Association (MBA) reported the changes as were gathered in its National
Delinquency Survey (NDS). The delinquency rate for mortgages jumped 64 basis
points (bps) compared to the second quarter, to 4.88 percent of all outstanding
loans. This was an increase of 36 bps
from the same quarter in 2016.
activity in the third quarter of 2017 is described as "continuing its rough patch"
in Fannie Mae's latest edition of Economic
Developments. The company's
economists say that activity pulled back across the board during the quarter. It was also the third in a row in which housing
starts fell, although Friday's report on October residential construction
signals a possible resurgence. New home
sales were also down, despite an impressive 18.9 percent gain in September, a
month in which existing home sales also rose for the first time in four months.