“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
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.
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.
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, 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.
MBA NewsLink recently interviewed Dax Junker of Title Clearing & Escrow about the title insurance industry.
Preventing foreclosures requires active collaboration between servicers and homeowners.
“The near-total disappearance of zombie foreclosures has been and still is one of the more subtle, but important benefits of the country’s soaring housing market.”
–Rob Barber, CEO for ATTOM
DENVER–Freddie Mac President Mike Hutchins announced Oct. 28 the latest addition to the enterprise’s automated underwriting system (Loan Product Advisor): LPA Choice.
DENVER–It’s no secret that artificial intelligence is an increasingly hot topic, and there are real applications to consider for those working in mortgage banking and related industries, said experts from Amazon Web Services and NVIDIA Corp., at MBA’s Annual Convention & Expo Oct. 29.
