The share of mortgages late by 30 days or more fell to 3.91% in September, almost half the level of a year ago, Black Knight said in a report.
About 1.24 million mortgage holders remain in Covid-19-related forbearance plans, the lowest since the beginning of the pandemic, Black Knight said in a report on Friday.
Mortgage rates rose this week as stronger-than-expected economic data and concerns about inflation drove bond investors to demand higher yields for their investments.
Home loan rates are rising as inflation remains stubbornly high and bond investors react to the Federal Reserve’s plan to begin tapering its purchases of Treasuries and mortgage-backed securities.
The volume of applications for mortgages to purchase homes increased last week while refinancings declined, according to data from the Mortgage Bankers Association.
The number of days required to close a mortgage shrank in August to the shortest period in over a year, according to ICE Mortgage Technology.
About 4.2% of all mortgages in the nation were in some stage of delinquency, meaning 30 days or more past due, including loans in forbearance, the report said.
About 1.4 million U.S. homeowners with mortgages remain in Covid-19-related forbearance plans this week, the lowest since the beginning of the pandemic, Black Knight said in a report.
Mortgages backed by the Federal Housing Administration aren't the only way to get a low-down-payment home loan — Fannie Mae and Freddie Mac offer them too.
Mortgage rates edged lower this week as bond investors waited for Friday’s employment report to gauge when the Federal Reserve will start tapering its purchases of fixed assets.
Allowing the VA loan fees to reset as scheduled will save veterans and active-duty military members about $200 million annually, the lenders’ group said.
Shelling out more upfront means you'll get a lower rate and a smaller mortgage payment, but is it the right course for everyone?
Should you buy a house now, at whatever mortgage rate is available, and plan to refinance later?
Opting for an ARM instead of a fixed-rate mortgage can be a good strategy if a homebuyer doesn't plan to stay in the house for more than five to seven years.
