CHamler

CoreLogic, a  leading information and analytics provider on consumer, financial and property data, reported that the overall Delinquency Rate has gone down to 5 percent in February 2017. It has decreased 0.5 percent compared to the 5.5 percent in February of the previous year. The Delinquency Rate represents the homeowners who are behind their mortgage payments by 30 days or more. Serious Delinquency Rate Also Trending Down Also in decline is the Serious Delinquency Rate which is at 2.2 percent from the 2.8 percent reflected last February 2016. Serious Delinquency Rate is defined as mortgages that are past due 90…

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The economy still has to hit the escape button from the effects of the last financial crisis. And the housing market could propel it forward. All throughout the country, the demand still remains high. Mortgage rates are still at an all-time low. This drives more consumers to consider home buying or refinancing their current loan. More Borrowers Paying Off Sooner Prepayment Speed, a good indicator for refinancing activities, rose 20 percent higher in March 2017 compared to February of the same year. This number, however, is still 26 percent behind last year’s level. When mortgage rates fall, borrowers take advantage…

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Black Knights Financial Services Inc. (BKFS) released a report on April 21, 2017, showing that mortgage delinquencies have reached its lowest since March 2006. The drop dipped 14.08 percent on a month-over-month statistics, while the year-over-year measurements showed an 11.40 percent decline. These statisticswas yielded from the company’s  national mortgage market database. The U.S. Loan Delinquency Rate, defined as the loans 30 or more days past due, but not in foreclosure, was 3.62 percent which is also at it’s all time low. Also on a decline to is the Total Non-current Inventory. Now at below 2.3 million, it’s the…

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“Subprime auto is so small relative to the US debt market it won’t make a difference to the system,” JPMorgan Chase CEO Jamie Dimon said during an event early April. However, Dimon does not deny that there is currently a problem in the U.S. Subprime Auto Loan Market. This present issue about a new subprime bubble coming its way has pressed major concern. The last subprime crisis brought the U.S. to recession in 2008-2009 and many fear that the present subprime auto loan market crisis can very well be on its way. Federal Reserve Bank of New York’s Data shows…

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Spring is coming. This means spring selling season is here. And while this not something unusual, this year, the demands are higher than usual. According to the National Association of Realtors (NAR), this demand has surged nationwide. The many years of uninterrupted job growth may cause this increase in consumers’ confidence. Another factor contributing to the surge is the positive sentiment that the overall economy is improving. NAR Chief Economist Lawrence Yun said, “Confidence levels generally rise after a presidential election as the nation hopes for the best. Even though it is a highly polarized country, consumers, for the most…

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