by calculated risk November 4, 2024 10:51:00 AM
In today’s real estate newsletter: ICE Mortgage Monitor: “Annual home price growth slows for 7th consecutive month”
A brief excerpt:
One of the key indicators to monitor mortgage stress is early delinquency. These are borrowers who became delinquent within six months of inception. This was one of the obvious red flags during the housing bubble.
Early-stage delinquencies on VA loans have been steadily increasing.
• Early-stage delinquencies (borrowers who are already past due six months after loan origination) are also increasing over time, particularly in VA loans.
• Overall, 1.7% of the 2024 vintage was in arrears six months after brewing began, the highest rate of any vintage since 2008, excluding pandemic-era payment shocks.
Note that the country’s mortgage performance has been affected by the hurricane.
You can find more information in our newsletter.
