Wednesday, November 2, 2022 / by Dave Magua
Home prices continued to fall in September as buyer demand cooled, according to data released Tuesday, compiled by the real estate analytics provider CoreLogic.
The data shows that home prices posted a 0.5 percent decline between August and September and were up 11.4 percent from September 2021 — a relaxed rate of annual growth compared to previous months.
The once out-of-control housing market has largely been brought to heel by the steep increase in mortgage rates, which surpassed 7 percent in October,bringing the share of income required to make a typical monthly mortgage payment up to 30 percent.
Price growth is uneven across the country as some markets that saw unprecedented growth during the COVID-19 pandemic have begun price correction while others are still seeing a sustained rate of migration.
“The rapid increase in prices during the COVID-19 pandemic caused many U.S. housing markets to reach completely unaffordable levels for potentia. ...
#real estate #south florida #luxury real estate #buy and sell #dave magua #home decor #real estate agent #luxury life #luxury homes # miami realtor #dave magua group #we sell houses #jplantation #weston island #beach front properties #real estate investor #investment property #family home #boca raton #boca #home #illustrated #real estate#compass, palm beach county, south florida, broward county, sell my property, palm beach, mortgage, jupiter, sell my house, jupiter farms, #covid19 #corona, hurricane
Friday, May 15, 2020 / by Dave Magua
Close to 9% of all active mortgage loans are in forbearance as of this week, according to the latest data from Black Knight’s McDash Flash. That amounts to a total of 4.7 million homeowners now in forbearance, which is up from 4.5 million loans reported one week ago.
The latest numbers have been enhanced to include loans that were in forbearance but not previously reported as “COVID-19-related.”
About 7% of mortgage loans backed by Fannie Mae and Freddie Mac are now in forbearance, while 12.4% of FHA and VA-backed loans are in forbearance. Just over 9% of portfolio and privately securitized loans are also in forbearance.
In terms of loan numbers, that’s 27.9 million GSE loans, 12.1 million FHA and VA loans, and 13 million other mortgage loans.
In total dollar amount across all loan types, the total unpaid principal balance on loans in forbearance is $1 trillion.
Meanwhile, servicers must continue to advance principal and interest payments along with ta. ...
#covid19 #corona, broward county, delinquency, foreclosure, help, minnesota vikings, mortgage, palm beach county, shortsale, south florida
Wednesday, May 13, 2020 / by Dave Magua
Prepping for a Delinquency Spike May 2020
"However, the pandemic-induced closure of nonessential businesses caused the April unemployment rate to spike to its highest level in 80 years and will lead to a rise in delinquency and foreclosure. By the second half of 2021, we estimate a four-fold increase in the serious delinquency rate, barring additional policy efforts to assist borrowers in financial distress.”
“After a long period of decline, we are likely to see steady waves of delinquencies throughout the rest of 2020 and into 2021," said Frank Martell, President and CEO of CoreLogic. "The pandemic and its impact on national employment is unfolding on a scale and at a speed never before experienced and without historical precedent. The next six months will provide important clues on whether public and private sector countermeasures—current and future—will soften the blow and help us avoid the protracted, widespread foreclosures and del" ...
#covid19 #corona, delinquency, shortsale, foreclosure, help, mortgage, south florida, broward county, palm beach county