Ahead of MBA Quarterly Survey, Reports Show Drop in Delinquencies, Rise in Foreclosures

This morning, the Mortgage Bankers Association releases its 3rd Quarter National Delinquency Survey. Ahead of the report, CoreLogic, Irvine, Calif., reported steady drops in mortgage delinquencies in August, while ATTOM, Irvine, Calif., said the end of foreclosure moratoria earlier this summer is pushing mortgage foreclosure actions higher.

CoreLogic: Homeowners Gained $2.9 Trillion in Equity in Q2

CoreLogic, Irvine, Calif., said homeowners with mortgages saw their equity increase by 29.3% year over year, representing a collective equity gain of more than $2.9 trillion and an average gain of $51,500 per borrower over the past year.

CoreLogic: June Foreclosure Inventory Rate Lowest in Two Decades

CoreLogic, Irvine, Calif., said 4.4% of all mortgages in the U.S. were in some stage of delinquency in June, a 2.7-percentage point decrease in delinquency from a year ago but above the February 2020 pre-pandemic rate of 3.6%.

1Q Homeowner Equity Gains $1.9 Trillion

Corelogic, Irvine, Calif., said “underwater” (negative equity) homes decreased by 24% year over year in the first quarter, while the average homeowner gained $33,400 in equity year over year.