Zombie Foreclosure Rate Hovers at Lowest Level Since 2021, ATTOM Finds
ATTOM, Irvine, Calif., released its third-quarter 2024 Vacant Property and Zombie Foreclosure Report, showing that of the residential properties currently in the process of foreclosure, just 7,007 sit vacant as “zombie foreclosures.”
ICE First Look: Delinquencies Improved in July
Intercontinental Exchange, Atlanta, released its first look at July data, finding that the national delinquency rate fell 12 basis points from June to 3.37% in July.
MBA Economist Mike Fratantoni on Jerome Powell’s Remarks Indicating Cuts
Federal Reserve Chair Jerome Powell spoke Aug. 23 at an economic symposium sponsored by the Federal Reserve Bank of Kansas City, in Jackson Hole, Wyo. His remarks implied the likelihood of near-term rate cuts.
MBA’s Chart of the Week: Pre-Tax Net Production Income and Production Volume
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pre-tax net profit of 17 basis points, or $693 on each loan they originated in the second quarter of 2024, an increase from the reported loss of 25 basis points, or $645 per loan in the first quarter of 2024, according to the Mortgage Bankers Association’s (MBA) newly released Quarterly Mortgage Bankers Performance Report.
Millennials Trying to Save for Homes, but Rent Is Too High, Survey Finds
Lombardo Homes, Shelby Township, Mich., recently released a new survey finding that while 51% of non-homeowner Millennials say they are saving for a home purchase, 77% also say rent is so high it poses a challenge.
