bee Calculated Risk On 2/06/2025 12:13:00 PM
Today, in the Calculated Risk Real Estate Newsletter: MBA: Mortgage Delinquencies increased slightly in Q4 2024
A letter excerpt:
From the MBA: Mortgage Delinquencies Increase in the Fourth Quarter of 2024
THe delinquency rate for mortgage loans on one-to-four-unit Residential Properties increased to a seasonally Adjusted Rate of 3.98 percent of all loans outstanding at the end of the fourth Quarter of 2024according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.
The following graph shows the percent of loans delinquent by days past due. Overall Delinquencies increased in Q2. The sharp increase in the 90-day bucket was due to loans in forbearance (included as delinquent, but not reported to the credit bureaus).
The percent of loans in the foreclosure process decreased year-over-year from 0.47 percent in Q4 2023 to 0.45 percent in Q4 2024 (ed) and remains historically low.
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The primary concern is the increase in FHA and va delinquency rates. Some of the increase is probably due to the Hurricanes last year.We will probably see an increase in 30-day delinquencies in Q1 2025 due to the wildfires in California.
There is much more in the article.