In its monthly “Loan Performance Insights Report,” CoreLogic reveals that mortgage delinquency rates were lower in April 2019 than they have been in twenty years, with no state reporting a year-over-year gain in delinquency rates.
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We are mere days from the start of the new year and with it, comes an onslaught of expert predictions from a range of industries. Nerdwallet recently put together a list of the top nine trends for the coming year, which outline another challenging year for home buyers (though less so than in recent years), tight inventory, home price and mortgage rate rises, and more.
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Just a few months ago it would’ve been hard to believe, but according to Puget Sound Business Journal, a recent Zillow report names the Seattle metro region “the third best large market in the country in which to buy a house this winter.”
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As was expected, mortgage rates have increased again, putting them at the highest level seen since April 2011. Seattle Times reports on the change, which pushed the 30-year-fixed-rate up to 4.90 percent in a 19-basis-point jump (1 basis point = 0.01 percentage point), the “largest one-week spike in the 30-year rate since November 2016, when it increased 37 points.” Alternatively, fifteen-year rates reached 4.29 percent, up from 4.15 percent last week and 3.21 percent last year.
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A recent CNBC article turned to best-selling author and Shark Tank co-host Kevin O’Leary for his insight on the do’s and don’ts of debt, outlining top tips that will have your financial future looking more bright. As the feature describes, “Americans hold $8.88 trillion of mortgage debt, according to a February report from the Federal Reserve Bank of New York,” which marks “the largest type of household debt in the country.”
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Amidst a strong economy and housing market, long-term mortgage rates in the United States inched upward this week, and as Seattle Times reports, the increase in the cost of borrowing comes “just as more of the millennial generation is entering the real estate market.” According to a release from Freddie Mac earlier this week, “the average rate on 30-year fixed-rate mortgages rose to 4.40 percent, a slight gain from 4.38 percent last week.”
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