by calculated risk 11/08/2024 08:27:00 AM
In today’s ‘Calculated Risk Real Estate’ newsletter: MBA: Mortgage delinquencies slightly down in Q3 2024
A brief excerpt:
From MBA: Mortgage delinquencies will decrease slightly in Q3 2024, increasing on an annual basis
Mortgage delinquency rates for one- to four-unit residential properties decreased slightly to a seasonally adjusted 3.92% of total loan balances. According to a national survey by the Mortgage Bankers Association (MBA), delinquencies have increased as of the end of the third quarter of 2024 compared to a year ago.
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.
…
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.
