The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 3 basis points to 5.20% of servicers’ portfolio volume as of February 28 from 5.23% the previous week. MBA estimates 2.6 million homeowners are in forbearance plans.
Mortgage credit availability remained unchanged in February and held near its lowest level in six years, the Mortgage Bankers Association reported this morning.
CoreLogic, Irvine, Calif., said its year-end Loan Performance Insights Report showed overall mortgage delinquency rates fell for the fourth straight month in December, ending a volatile year with signs of recovery.
The rate of U.S. home-price appreciation continues to be driven higher by a combination of strong demand for housing and record-low housing inventory for sale. The Federal Housing Finance Agency's most recent release showed the fourth quarter saw annual home-price growth of 10.9 percent –the strongest annual change on record. The previous high was an increase of 10.7 percent in third quarter 2005.