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DS News Webcast: Thursday 2/26/2015

Both the delinquency rate and the foreclosure inventory rate in Q4 2014 for residential mortgage loans fell to their lowest levels since 2007, according to the Mortgage Bankers Association's National Delinquency Survey released Wednesday. The delinquency rate fell to a seasonally-adjusted rate of 5.68 percent in Q4 for all mortgage loans outstanding at the end of the quarter, which was the lowest level since the third quarter of 2007.

The percentage of loans in foreclosure for Q4 also experienced a sharp decline, down to 2 point 27 percent – the lowest foreclosure inventory rate since the fourth quarter of 2007. The foreclosure inventory rate for Q4 was down 12 basis points from the previous quarter and 59 basis points year-over-year. The percentage of loans on which the foreclosure process began ticked slightly upward by two basis points quarter-over-quarter in Q4, up to 0.46 percent.

The latest Multi-Indicator Market Index from Freddie Mac, released Wednesday, showed that the U.S. housing market showed continued stabilization for the fourth straight month in December. According to the latest index, 38 states plus the District of Columbia and 40 out of 50 metros showed an improving three-month trend in December. While Freddie Mac said the latest index value indicated a weak housing market, it has been showing improvement. The national index value for December was reported at 74.9, which is a year-over-year increase of 4.41 percent

About Author: Jordan Funderburk

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