Tag Archive for ‘home mortgage’

Serious Delinquency Rate Continues its Decline

The most recent results of the National Delinquency Survey produced by the Mortgage Bankers Association (MBA) show that, as of the 4th quarter of 2018, mortgage servicers serviced 29.9 million non-government-insured mortgages, also known as conventional mortgages. Beginning with the first quarter of 2017, the MBA had discontinued its long-held classification of conventional loans into the prime and subprime categories,… Read More ›

Student Loans Crowding Out Home Purchases

Student and auto loans have historically dominated non-mortgage, non-revolving credit, as seen in the Federal Reserve’s G.19 Consumer Credit report. As of the third quarter of 2018, student loan debt totaled $1.6 trillion.  As student-loan debt has historically made up the majority of non-mortgage, non-revolving credit, homeownership is the opportunity cost for its accumulation. In January 2019, as part of its… Read More ›

Mortgage Market Moves

As has been discussed, information compiled by Freddie Mac shows that mortgage rates reversed coursed in December. The 30-year FRM – Commitment rate, which had been increasing since August, fell by 23 basis points to 4.64 percent from 4.87 percent in November. The Federal Housing Finance Agency reported that the contract rate for newly-built homes, inched up two basis points… Read More ›

U.S. Household Balance Sheet Continues to Recover in Q3 2018

The third quarter Federal Reserve Flow of Funds report showed continued improvement in the financial position of U.S. households with real estate, as the market value of all owner-occupied residential real estate (household owned) rose to $25.6 trillion. According to NAHB tabulations of the quarterly series, the asset or market value of owner-occupied real estate held by U.S. households increased… Read More ›

30-Year Mortgage Rate At The Highest Level In Nearly Eight Years

Information compiled by Freddie Mac shows that mortgage rates are continuing to increase after a slight slowdown in the summer months. The 30-year FRM – Commitment rate, inched up considerably by 20 basis points to 4.83 percent from 4.63 percent in September. The October increase of the 30-year FRM – Commitment rate, is the highest level since the beginning of… Read More ›

Mortgage Rates Flatten in July

The Federal Housing Finance Agency reported that mortgage rates on purchases of newly built homes (MIRS) rose by one basis points over the month of July 2018 to 4.60 percent, marking the ninth consecutive monthly increase. The FHFA contract rate for Newly-built homes, also inched up 3 basis points to 4.62 percent in July. However, information compiled by Freddie Mac… Read More ›

Younger Households More Likely to Have Auto Loans than Mortgages

Homeownership provides a distinct advantage for wealth accumulation. Although many households desire to purchase a home, the share of households living in owner-occupied housing remains low, following a steep decline associated with the Great Recession. Younger households, those under the age of 35, experienced the biggest declines in homeownership, although recent evidence suggests that the homeownership rate among these households… Read More ›

Homeownership is Key to Household Wealth

According to the 2016 Survey of Consumer Finances (SCF), nationally, the primary residence represents the largest asset category on the balance sheets of households in 2016 (as shown in Figure 1 below). At $24.2 trillion, the primary residence accounted for about one quarter of all assets held by households in 2016, surpassing other financial assets1 (20%), business interests (20%) and… Read More ›