Matic, Columbus, Ohio, released its latest report on the state of the home insurance industry, finding that factors such as climate change, availability and costs continue to weigh heavily.
Category: News and Trends
TransUnion: Mortgage Delinquencies Tick Up but Remain Low
TransUnion, Chicago, released its Q3 2024 Credit Industry Insights Report, finding that mortgage delinquencies have slowly begun to increase among consumers.
Neptune Flood Highlights Severe Impact of Hurricanes Helene, Milton
Neptune Flood, St. Petersburg, Fla., recently released an analysis of the aftermath of hurricanes Helene and Milton, specifically regarding the U.S. flood insurance market.
MBA Statement on FHA’s Annual Report to Congress
MBA’s President and CEO Bob Broeksmit, CMB, issued a statement regarding the Federal Housing Administration’s release of its annual report to Congress.
Servicing Quote of the Week
“Mortgage delinquencies have inched up over the past year. Even though there was a small, third-quarter decline in the overall delinquency rate compared to the previous quarter, this was driven by a decrease in 30-day delinquencies.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis
MBA: Mortgage Delinquencies Decrease Slightly in the Third Quarter of 2024, Up on Annual Basis
The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased slightly to a seasonally adjusted rate of 3.92% of all loans outstanding at the end of the third quarter of 2024 compared to one year ago, according to the Mortgage Bankers Association’s National Delinquency Survey.
MBA RIHA Report: Housing Supply Will Remain Tight as Older Americans Continue to ‘Age in Place’
As older Americans continue to remain living in their homes for longer, and the homeownership rate for Americans over 50 continues to increase, there will be excess demand for older Americans’ homes over the next decade as shifting demographics impact housing for homebuyers of all ages.
ICE: Record Levels of Tappable Equity in Q3
Intercontinental Exchange Inc., Atlanta, reported that mortgage holders at the end of the third quarter held $17.2 trillion in equity. Of that, $11.2 trillion was deemed tappable–meaning it can be borrowed against with the homeowner still maintaining a 20% equity stake.
CardRates: Many Young Americans Spending Significantly on Housing
CardRates, Gainesville, Fla., released a survey of millennial and Gen Z Americans, finding 76.32% of respondents are spending more than 31% of their monthly income on housing.
NewsLink Q&A: Dax Junker, CEO of Title Clearing & Escrow
MBA NewsLink recently interviewed Dax Junker of Title Clearing & Escrow about the title insurance industry.