Mortgage delinquency rate lowest level since 1999 - Thanks Biden!

[bigrebnc1775]

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.

In November 2023, 49 percent of cardholders fell into this credit card “debt revolver” category — up from 39 percent in 2021 and 47 percent in July 2023. This finding comes amid the legacy of high inflation, which has increasingly caused consumers to turn to their credit cards to make ends meet.Jan 8, 2024

Bankrate: Guiding you through life's financial journey › finance

Survey: More cardholders carrying balances, credit card debt - Bankrate​

 

[bigrebnc1775]

Goldman Sachs, Capital One, Bank Of America, Wells Fargo, Morgan Stanley, New York Community Bank and PacWest Bancorp are just some banks that have announced layoffs throughout the 2022 and 2023 economic downturn.May 10, 2023

Forbes › 2023/05/10

Bank Loan Officer Survey Shows That The Economy Will Slow Down, Leading To ...​

 

[Harpy Eagle]

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

Why would my neighborhood be different than the rest of the 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.

They are indeed.

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.

There are always houses listed that long, what you seem to be missing are all the houses that are listed for a day or two and are gone. Once a house has been listed more than 60 days its chance of being sold goes down as people assume there is something wrong with it. A wise seller would take it back off the market for a month and relist it.

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.

For sure, sadly renting a house has gotten out of hand. We were renting for a few years before we had our current house built. Our rent for that house was 500 less than our mortgage and the only reason it was that low is we had a multi year lease so he could not raise the rent the first few years we lived there. We moved out by the 10th of a month and he had the house rented by the end of the same month, and I suspect he raised the rent another 300 or so. Apartments are easier to find around here, houses do not stay on the rental market for more than a day or two.

 

[citygator]

In November 2023, 49 percent of cardholders fell into this credit card “debt revolver” category — up from 39 percent in 2021 and 47 percent in July 2023. This finding comes amid the legacy of high inflation, which has increasingly caused consumers to turn to their credit cards to make ends meet.Jan 8, 2024
View attachment 889440
Bankrate: Guiding you through life's financial journey › finance

Survey: More cardholders carrying balances, credit card debt - Bankrate​

2021 comparisons are junk. No one was spending and receiving support from Uncle Sam. Compare it to any prepandemic time… bet you wont.

 

[citygator]

Goldman Sachs, Capital One, Bank Of America, Wells Fargo, Morgan Stanley, New York Community Bank and PacWest Bancorp are just some banks that have announced layoffs throughout the 2022 and 2023 economic downturn.May 10, 2023
View attachment 889442
Forbes › 2023/05/10

Bank Loan Officer Survey Shows That The Economy Will Slow Down, Leading To ...​

Same people predicted the same in 2023.

 

[Harpy Eagle]

Same people predicted the same in 2023.

and 2022

 

[Harpy Eagle]

2021 comparisons are junk. No one was spending and receiving support from Uncle Sam. Compare it to any prepandemic time… bet you wont.

This is correct, in 2021 people were still getting checks from the Govt for COVID

 

[bigrebnc1775]

2021 comparisons are junk. No one was spending and receiving support from Uncle Sam. Compare it to any prepandemic time… bet you wont.

Simp the source I used was from 2023 stop dodging from your failed thread

 

[bigrebnc1775]

This is correct, in 2021 people were still getting checks from the Govt for COVID

This is 2023 try again

 

[bigrebnc1775]

Same people predicted the same in 2023.

And it's coming or banks wouldn't be laying off loan officers.

 

[Harpy Eagle]

This is 2023 try again

 

[Harpy Eagle]

And it's coming or banks wouldn't be laying off loan officers.

If you predict a crash for enough years in a row, it is bound to happen.

You are like a weather girl on TV, predict snow for 2 weeks straight and then when it finally snows goes "see, I told you so"

 

[bigrebnc1775]

My source is from Nov 2023 you failed

 

[bigrebnc1775]

If you predict a crash for enough years in a row, it is bound to happen.

You are like a weather girl on TV, predict snow for 2 weeks straight and then when it finally snows goes "see, I told you so"

Why are banks laying off loan officers?

 

[Harpy Eagle]

Simp the source I used was from 2023 stop dodging from your failed thread

and they are comparing things to 2021, a time when the Fed Govt was still giving away billions to the people.

Compare 2023 to 2019 and see how they compare.

 

[Harpy Eagle]

Why are banks laying off loan officers?

Your link was from May of 2023, they were laying off loan officers then due to an expected slowing of the economy, which never came

 

[citygator]

Simp the source I used was from 2023 stop dodging from your failed thread

Golf just explained it to you. Comparing 2023 to 2021 is something people do to fool fools. Don’t be that fool.

 

[bigrebnc1775]

Your link was from May of 2023, they were laying off loan officers then due to an expected slowing of the economy, which never came

Oct 2023
The largest American banks have been quietly laying off workers all year — and some of the deepest cuts are yet to come.

Big banks are quietly cutting thousands of employees, and more layoffs are coming

Job losses in finance could pressure the broader U.S. labor market in 2024. Faced with rising defaults on loans, lenders are poised to make deeper cuts.

www.cnbc.com

 

[bigrebnc1775]

Golf just explained it to you. Comparing 2023 to 2021 is something people do to fool fools. Don’t be that fool.

He dodged is what he did idiot

 

[Harpy Eagle]

Oct 2023
The largest American banks have been quietly laying off workers all year — and some of the deepest cuts are yet to come.

Big banks are quietly cutting thousands of employees, and more layoffs are coming

Job losses in finance could pressure the broader U.S. labor market in 2024. Faced with rising defaults on loans, lenders are poised to make deeper cuts.

www.cnbc.com

It is like you do not even read your own links, as you are always posting links that refute your claims..