by Risk calculated on November 8, 2024 08:27:00 AM
Today’s Calculating Risk Real Estate Newsletter: MBA: Mortgage delinquencies slightly down in Q3 2024
A brief excerpt:
From the MBA: Mortgage delinquencies decline slightly in the third quarter of 2024, increasing on an annual basis
According to Mortgage Bankers, the delinquency rate for mortgages on one- to four-unit residential properties was a seasonally adjusted 3.92% of total loan balances at the end of the third quarter of 2024 compared to a year ago. decreased. National Association for Delinquency (MBA) National Delinquency Survey.
The following graph shows the percentage of past due loans by number of days past due. Overall delinquencies increased in the second quarter. The sharp increase in the 90-day bucket in 2020 was due to pending loans (included as delinquent but not reported to credit bureaus).
The percentage of loans in foreclosure proceedings decreased year over year from 0.49 percent in Q3 2023 to 0.45 percent (red) in Q3 2024, and remains at historically low levels.
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We expect 30-day delinquencies to increase in the fourth quarter as a result of the hurricane.
There's a lot more to this article.
