Mortgage delinquency rate lowest level since 1999 - Thanks Biden!

[citygator]

Looks like Bidenomics has this economy humming so well that mortgage delinquency rates are almost nothing. At some point you righties are gonna have to give up on “the economy sucks” when the evidence to the opposite is so clear. Congratulations to the Chief Economy Owner or CEO of the country.

US Serious Mortgage Delinquency Rate Falls to Lowest Level Since 1999

Serious U.S. mortgage delinquency rates were at an all-time low at the end of 2023, though the rates vary among loan types.

www.corelogic.com

The nation’s overall mortgage delinquency rate was unchanged year over year in October 2023 and remains near an all-time low, according to the latest CoreLogic Loan Performance Insights report.

The U.S. serious delinquency rate (defined as borrowers who are 90 days or more late on their mortgage payments) was 0.9% in October 2023, down from 1.2% from one year earlier%. [1] When compared with the peak serious delinquency rate for mortgages in August 2020, October’s rate was down by 3.4 percentage points.

Low unemployment numbers have helped reduce the overall delinquency rate, as have mortgage modification programs offered to those who were in forbearance. And while serious delinquencies for all types of mortgages have declined over the past three years, it’s important to examine the trends by loan type, as some are more sensitive to changes in the macroeconomic environment.

As of October 2023, the serious delinquency rates for Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA) and conventional loans were 3.2%, 2% and 0.7%, respectively (Figure 1). [2] The serious delinquency rate decreased for all loan types in October 2023 compared with a year prior, when COVID-related delinquencies still lingered.

 

[scruffy]

Looks like Bidenomics has this economy humming so well that mortgage delinquency rates are almost nothing. At some point you righties are gonna have to give up on “the economy sucks” when the evidence to the opposite is so clear. Congratulations to the Chief Economy Owner or CEO of the country.

US Serious Mortgage Delinquency Rate Falls to Lowest Level Since 1999

Serious U.S. mortgage delinquency rates were at an all-time low at the end of 2023, though the rates vary among loan types.

www.corelogic.com

View attachment 889186

The nation’s overall mortgage delinquency rate was unchanged year over year in October 2023 and remains near an all-time low, according to the latest CoreLogic Loan Performance Insights report.

The U.S. serious delinquency rate (defined as borrowers who are 90 days or more late on their mortgage payments) was 0.9% in October 2023, down from 1.2% from one year earlier%. [1] When compared with the peak serious delinquency rate for mortgages in August 2020, October’s rate was down by 3.4 percentage points.

Low unemployment numbers have helped reduce the overall delinquency rate, as have mortgage modification programs offered to those who were in forbearance. And while serious delinquencies for all types of mortgages have declined over the past three years, it’s important to examine the trends by loan type, as some are more sensitive to changes in the macroeconomic environment.

As of October 2023, the serious delinquency rates for Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA) and conventional loans were 3.2%, 2% and 0.7%, respectively (Figure 1). [2] The serious delinquency rate decreased for all loan types in October 2023 compared with a year prior, when COVID-related delinquencies still lingered.

Moron, DONALD J TRUMP is responsible for the low interest rates.

Fucking ungrateful scumbag leftards...

 

[whitehall]

The Biden admin ordered banks to give people a pass on foreclosures due to Covid. The order persists due to political reasons and lefties fall for it every time.

 

[Dont Taz Me Bro]

Moron, DONALD J TRUMP is responsible for the low interest rates.

Fucking ungrateful scumbag leftards...

How?

 

[shockedcanadian]

The greatest administration in world history!

 

[blackhawk]

Biden approval rating RCP.
https://www.realclearpolling.com/polls/approval/joe-biden/approval-rating

 

[Harpy Eagle]

The Biden admin ordered banks to give people a pass on foreclosures due to Covid.

That was the Trump admin, not the Biden one. Do try to keep up

 

[JustAnotherNut]

In 2020 rents & mortgages were suspended, in 21 banks were offering 'mortgage assistance' to pay back the delinquencies.....which included either paying a higher payment each month or adding it to the back of the loan......but many people had lost their jobs because many companies closed or downsized. It's hard to make a payment if you don't have an income......so lots of homes went into foreclosure, which meant the homeowners are either renting or homeless and still struggling to find jobs to pay for 'affordable' housing.

Foreclosure process takes about 2 years to complete, so in 2023 all those foreclosed homes are now hitting the real estate market which is soon to bottom out, and homes will be worthless.

 

[Harpy Eagle]

Foreclosure process takes about 2 years to complete, so in 2023 all those foreclosed homes are now hitting the real estate market which is soon to bottom out, and homes will be worthless.

more wishful thinking?

 

[irosie91]

Looks like Bidenomics has this economy humming so well that mortgage delinquency rates are almost nothing. At some point you righties are gonna have to give up on “the economy sucks” when the evidence to the opposite is so clear. Congratulations to the Chief Economy Owner or CEO of the country.

US Serious Mortgage Delinquency Rate Falls to Lowest Level Since 1999

Serious U.S. mortgage delinquency rates were at an all-time low at the end of 2023, though the rates vary among loan types.

www.corelogic.com

View attachment 889186

The nation’s overall mortgage delinquency rate was unchanged year over year in October 2023 and remains near an all-time low, according to the latest CoreLogic Loan Performance Insights report.

The U.S. serious delinquency rate (defined as borrowers who are 90 days or more late on their mortgage payments) was 0.9% in October 2023, down from 1.2% from one year earlier%. [1] When compared with the peak serious delinquency rate for mortgages in August 2020, October’s rate was down by 3.4 percentage points.

Low unemployment numbers have helped reduce the overall delinquency rate, as have mortgage modification programs offered to those who were in forbearance. And while serious delinquencies for all types of mortgages have declined over the past three years, it’s important to examine the trends by loan type, as some are more sensitive to changes in the macroeconomic environment.

As of October 2023, the serious delinquency rates for Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA) and conventional loans were 3.2%, 2% and 0.7%, respectively (Figure 1). [2] The serious delinquency rate decreased for all loan types in October 2023 compared with a year prior, when COVID-related delinquencies still lingered.

I am a registered democrat----based on the HORROR of easy
mortgage that infected our WHOLE society----leading to foreclosures left and right-----the banks have stopped that fad----that's why
foreclosures have lessened-----you cute little puppy

 

[Silent Warrior]

In a way bidenomics had some influence here. It made it impossible for the marginally qualified to be able to afford real estate and that is the group that is responsible for most RE delinquency. Allowing only the wealthy to be able to afford a home would keep delinquency low.

 

[JustAnotherNut]

more wishful thinking?

Fact. it's happening now.

 

[beautress]

Looks like Bidenomics has this economy humming so well that mortgage delinquency rates are almost nothing. At some point you righties are gonna have to give up on “the economy sucks” when the evidence to the opposite is so clear. Congratulations to the Chief Economy Owner or CEO of the country.

US Serious Mortgage Delinquency Rate Falls to Lowest Level Since 1999

Serious U.S. mortgage delinquency rates were at an all-time low at the end of 2023, though the rates vary among loan types.

www.corelogic.com

View attachment 889186

The nation’s overall mortgage delinquency rate was unchanged year over year in October 2023 and remains near an all-time low, according to the latest CoreLogic Loan Performance Insights report.

The U.S. serious delinquency rate (defined as borrowers who are 90 days or more late on their mortgage payments) was 0.9% in October 2023, down from 1.2% from one year earlier%. [1] When compared with the peak serious delinquency rate for mortgages in August 2020, October’s rate was down by 3.4 percentage points.

Low unemployment numbers have helped reduce the overall delinquency rate, as have mortgage modification programs offered to those who were in forbearance. And while serious delinquencies for all types of mortgages have declined over the past three years, it’s important to examine the trends by loan type, as some are more sensitive to changes in the macroeconomic environment.

As of October 2023, the serious delinquency rates for Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA) and conventional loans were 3.2%, 2% and 0.7%, respectively (Figure 1). [2] The serious delinquency rate decreased for all loan types in October 2023 compared with a year prior, when COVID-related delinquencies still lingered.

Mr. citygator, I just spent $245 dollars on $125 worth of groceries. I do not share your enthusiasm for Bidenomics. Not one half-penny. Now I have to wait a month to complete my three doggie's puppy shots. I take 2 at a time, which costs $645 per trip including all doggie illnesses, rabies, and flea and tick prevention. I love my sweet little doggies. And I don't know how I'm going to keep the boys separated from the girls when they go in heat, except I have to lock them away from each other for two months of that, because after shelling out two thousand dollars, it will take me six months to accumulate to have 7 surgeries, that include 3 spayings and four neutering. They're all that I have. I will be eating beans and rice for 6 months in order to pay for the surgeries. It's okay. I was born poor so it won't hurt me a bit reliving my mother's cookbook notes. It didn't help to lose the water well's efficacy last night due to the deep freeze we had of about 15 degrees F. I had to buy 4 gallons of water, and already, 3 gallons are gone to fill their water trough, make coffee, and cook a chicken for their good health. So that means another water purchase is going to need to be made before sundown. Darn it.

 

[irosie91]

Mr. citygator, I just spent $245 dollars on $125 worth of groceries. I do not share your enthusiasm for Bidenomics. Not one half-penny. Now I have to wait a month to complete my three doggie's puppy shots. I take 2 at a time, which costs $645 including all doggie illnesses, rabies, and flea and tick prevention. I love my sweet little doggies. And I don't know how I'm going to keep the boys separated from the girls when they go in heat, except I have to lock them away from each other for two months of that, because after shelling out two thousand dollars, it will take me six months to accumulate to have 7 surgeries, that include 3 spayings and four neutering. They're all that I have.

the increase in food prices is a BROAD BASE HORROR---the
"government" such as it is, MUST subsidize basic food---and
maybe farmers ----or DO SOMETHING (so that people with dogs
can have enough money ---for their stuff)

 

[citygator]

Mr. citygator, I just spent $245 dollars on $125 worth of groceries. I do not share your enthusiasm for Bidenomics. Not one half-penny. Now I have to wait a month to complete my three doggie's puppy shots. I take 2 at a time, which costs $645 per trip including all doggie illnesses, rabies, and flea and tick prevention. I love my sweet little doggies. And I don't know how I'm going to keep the boys separated from the girls when they go in heat, except I have to lock them away from each other for two months of that, because after shelling out two thousand dollars, it will take me six months to accumulate to have 7 surgeries, that include 3 spayings and four neutering. They're all that I have. I will be eating beans and rice for 6 months in order to pay for the surgeries. It's okay. I was born poor so it won't hurt me a bit reliving my mother's cookbook notes. It didn't help to lose the water well's efficacy last night due to the deep freeze we had of about 15 degrees F. I had to buy 4 gallons of water, and already, 3 gallons are gone to fill their water trough, make coffee, and cook a chicken for their good health. So that means another water purchase is going to need to be made before sundown. Darn it.

You should buy store brands. What did you buy that cost double?

 

[citygator]

the increase in food prices is a BROAD BASE HORROR---the
"government" such as it is, MUST subsidize basic food---and
maybe farmers ----or DO SOMETHING (so that people with dogs
can have enough money ---for their stuff)

Clearly they have enough money for food and their mortgage.

 

[JustAnotherNut]

more wishful thinking?

You keep laughing but don't offer an argument.........have you kept an eye on the real estate market in your area??? IDK, maybe homes are just selling left & right in your area.


The foreclosure process starts after 90 days of delinquent payments and takes about 2 years to complete.....then the bank sells the property. So yes, those homes are coming into the market......right along with everyone else trying to sell their homes for whatever other reasons

 

[Harpy Eagle]

You keep laughing but don't offer an argument.........

not much to say really, you have given your opinion, will anything I say change it?

.have you kept an eye on the real estate market in your area??? IDK, maybe homes are just selling left & right in your area.

I am the Treasurer for our HOA and thus know when a house sells as I get contacted by the Title company about HOA fees. The builder is still building and they are selling almost as fast as they are getting finished and those I know that are wanting to move have not had any issue selling. They hold back a few to use as rentals, and those go faster than the sales.

I can say with 100% surety there has been no drop in prices/values in this area.

 

[citygator]

In a way bidenomics had some influence here. It made it impossible for the marginally qualified to be able to afford real estate and that is the group that is responsible for most RE delinquency. Allowing only the wealthy to be able to afford a home would keep delinquency low.

People are making their payments. The number of people living in homes is not down it’s up meaning more people have purchased homes.

 

[JustAnotherNut]

not much to say really, you have given your opinion, will anything I say change it?



I am the Treasurer for our HOA and thus know when a house sells as I get contacted by the Title company about HOA fees. The builder is still building and they are selling almost as fast as they are getting finished and those I know that are wanting to move have not had any issue selling. They hold back a few to use as rentals, and those go faster than the sales.

I can say with 100% surety there has been no drop in prices/values in this area.

That is your neighborhood......what about down the street or across town?

And I didn't say the prices/values were currently dropping but will be as those homes come to the market.

Housing costs, whether buying/selling or rental are all extremely high everywhere.



Because I have been considering selling my home and moving, even looking out of state, I've kept an eye on Zillow.....not the greatest source, but shows well enough the prices and speed of sales.....which have slowed. I seen many places, not just in this area (county/region) but even in other states, the homes have been sitting 30, 60, 90+ days. Many of those have dropped their asking price and still haven't sold. This is due to higher interest rates that if/when they drop, then sales will probably pick up. I've also seen many foreclosed homes come up for sale or auction, that is rarely listed as market price.

I've also considered renting........but in the Puget Sound area, even studio apartments are more than my current mortgage and not alot better anywhere else.