Mortgage Delinquency: “Signs of Emerging Stress in Some States”

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post Mortgage Delinquency: “Signs of Emerging Stress in Some States” Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago CoreLogic found that as of June 2019, the foreclosure inventory rate fell 0.1 percentage points from June 2018 to 0.4%—tied with the past seven months as the lowest for any month since January 1999.Overall, the national share of mortgages that were in some stage of delinquency was 4% in June 2019—a 0.3 percentage point decline, compared to last year’s 4.3%. The share of mortgages that are delinquent more than 90 days fell from 1.2% to 0.9%, and the percentage of mortgages that were more than 120 days delinquent dropped to 1% from 1.4% in June 2018. “A strong economy and eight-plus years of home price growth have made mortgage foreclosure an infrequent event,” said Frank Nothaft, Chief Economist at CoreLogic. “This backdrop will help the mortgage market limit delinquencies in most of the country whenever a downturn should start.”1Mortgages delinquent between 30 and 59 days rose marginally from 2% last year to 2.1% in 2019. Of the metros studied, the New York-Newark-New Jersey metro had the highest serious delinquency rate of 2.6%. The metro also had the highest overall foreclosure rate at 1.3%.The next highest was Miami-Fort Lauderdale-West Palm Beach, Florida, at 2%. Denver-Aurora-Lakewood, Colorado, and San Francisco-Oakland-Hayward, California, had the lowest serious delinquency rate at 0.4%. According to PropertyShark, Manhattan foreclosure cases were up 118% year-over-year during Q3 2019, while Staten Island Island cases increased by 183%. Despite the large spike in Manhattan, the number of properties foreclosed only risen from 22 to 48 compared to the same period year. Meanwhile, foreclosure activity in the Bronx dropped by 51%, while Queens saw a 10% dip in unique cases year-over-year.Of the 48 cases this quarter in Manhattan, 25 of foreclosures were mortgage foreclosures. Only once in the past cycle has Manhattan had more foreclosures than in Q3 2019, and that was in Q4 2016. Additionally, pre-foreclosures increased 13% year-over-year in the borough.CoreLogic revealed the following states to seen an increase in delinquent activity: Vermont (0.7%); New Hampshire (0.3%); Nebraska (0.2%); and Minnesota (0.2%). Michigan, Iowa, Wisconsin, and Connecticut all posted marginal gains of 0.1%.  November 12, 2019 4,052 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. The Best Markets For Residential Property Investors 2 days ago About Author: Mike Albanese in Daily Dose, Featured, Foreclosure, News Home / Daily Dose / Mortgage Delinquency: “Signs of Emerging Stress in Some States” Share Savecenter_img Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Tagged with: Foreclosure Housing Market 2019 Serious Delinquent Mortgages The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Related Articles Foreclosure Housing Market 2019 Serious Delinquent Mortgages 2019-11-12 Mike Albanese Previous: Freddie Mac VP Discusses Communication in Servicing Next: Fannie Mae Closes 14th Reperforming Loan Sale Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Young families making presence felt in market

first_imgThe home at 7 Ashbrook Drive, Morayfield sold for $426,000.A FAMILY home in Morayfield sold after strong interest from buyers keen for the popular location.The property at 7 Ashbrook St sold via private treaty for $426,000. Sell Exclusive marketing agent Adam Parry said the four-bedroom home attracted “above average” interest for the local market. “We took about 12 groups through the home over a period of 20 days,” he said. “And we had multiple people going to offer on the place.” The buyers of 7 Ashbrook Drive, Morayfield were impressed by the layoutMore from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019Mr Parry said buyers liked the location close to everything on offer in Morayfield. “The successful buyers particularly like the layout of the home and the space,” Mr Parry said. “And the vendors were ecstatic with the sale.”Mr Parry said the Morayfield market had been performing well for the past two years. “A few years ago Morayfield was rated as No. 2 across Australia for family affordability and that created a lot of interest.“Morayfield is pretty much the best spot in the area for families — it’s affordable and close enough to the city to commute for work.” The home at 7 Ashbrook Drive, Morayfield proved popular with buyersMr Parry said most buyers were young families looking for value for money. “We’ve seen a lot of new buyers on scene since February. Some are still in the approval phase,” he said. “They’re coming from all over including Sydney, Coffs Harbour and even the Northern Territory and Western Australia. “We’ve even sold a couple of properties sight unseen because the market is moving so rapidly.”last_img read more

Cricket News Watch – James Faulkner does an MS Dhoni in Big Bash League, blasts 16 in final over

first_imgIn response, Hobart Hurricanes were boosted by an aggressive knock of 69 off 39 balls from George Bailey but once he fell in the 18th over, the Hurricanes needed 16 off the last over. Andrew Tye, a superb death overs bowler, was entrusted the task of ensuring Perth Scorchers would defend the total. However, Faulkner whipped the first ball over long leg for a six and followed it up by whacking a full ball on the pads to the wide long on fence. With 6 needed off 4 balls, the pressure was on Tye and the bowler bowled a full ball outside off which Faulkner creamed high over long off for his second six and give Hobart Hurricanes a dramatic win.This is not the first time Faulkner has finished games off in style. During the Brisbane ODI against England in 2014, Faulkner blasted 69* and shared a partnership of 57 for the final wicket with Clint McKay as Australia sealed an unbelievable win. The right-hander ended the match in style with three boundaries in the final over bowled by Tim Bresnan as Australia chased down a target of 301.Dhoni has finished plenty of games in style for India. In 2012 and 2019, he helped India beat Australia in Adelaide by hitting a six in the last over. In 2013, Dhoni blasted 15 runs in the tri-series final against Sri Lanka in Port of Spain while in the IPL, he blasted two sixes in the last two balls for Rising Pune Supergiant to help them beat Kings XI Punjab. highlights Perth: MS Dhoni has shown that his finishing prowess has not diminished. The Australian cricket team found it out in a very hard way when the former Indian cricket captain blasted three consecutive fifties and helped India over the line in tense finishes in Adelaide and Melbourne. The result was India winning a bilateral ODI series Down Under for the first time ever. Dhoni won the Man of the Series Award for the first time since 2011. However, in the Big Bash League, there was another player who was at one time acknowledged as the ‘ultimate finisher’ of the team but has drifted out since. In the Big Bash League contest between Hobart Hurricanes and Perth Scorchers at the Optus stadium, James Faulkner did an MS Dhoni in dramatic style with a thrilling last-over finish.Faulkner, who was the Man of the Match in the 2015 World Cup final against New Zealand which gave Australia their fifth World Cup title, got off to a great start by getting Cameron Bancroft (0) and Michael Klinger (0) in the very first over of the match. In his second over, things got better for him as he dismissed Ashton Turner (2) but towards the end, Sam Whiteman’s 68 and some big hits from Nathan Coulter-Nile helped Perth Scorchers reach 177/9. Coulter-Nile blasted three sixes in the last over bowled by Faulkner as the left-arm pacer conceded 21 runs to finish with 3/36 off four overs. Faulkner was the Man of the Match in 2015 World Cup finalFaulkner is currently playing for Hobart Hurricanes in the BBLHobart Hurricanes are on top of the Big Bash League table For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps.last_img read more