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Foreclosure Starts Rose in October - Real Estate Investing Today

Foreclosure initiations surged in October – Real Estate Investing Today

According to Black Knight’s latest Mortgage First Look, the national delinquency rate decreased by 3 basis points to 3.26% in October. This represents a 9 basis point improvement compared to the same time last year. However, foreclosure starts increased to 33,000 in October, reaching their highest levels in 18 months. Meanwhile, the number of foreclosure […]

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More Couples are Using Wedding Registries for Help Buying First Home

News / Boston REIA

According to a recent analysis from Zillow, more couples are using wedding registries to seek financial assistance in purchasing their first home. The data reveals that the number of couples including “home funds” in their wedding registry has increased by 55%. Approximately 20% of couples registered on The Knot, a popular bridal registry site, are

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Zombie Foreclosures Rise in Q4 - Real Estate Investing Today

The fourth quarter sees an increase in zombie foreclosures

News / Boston REIA

According to ATTOM Data’s Q4 2023 Vacant Property and Zombie Foreclosure Report, there were approximately 1.3 million vacant residential properties in the United States. This accounts for 1.27% of homes nationwide, or one in every 78 homes. The vacancy rate remained virtually unchanged from the previous quarter. The report also revealed that there were around

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All-Cash Share of New Home Sales Jumps in Q3 2023

The proportion of new home sales completed in cash increased significantly in the third quarter of 2023

News / Boston REIA

According to recent analysis conducted by NAHB’s Eye on Housing, the proportion of all-cash sales in the new home market significantly increased in the third quarter of 2023, while the share of VA-backed sales declined by almost half. The report also highlights that although cash sales only make up a small portion of new home

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The Rise in Mortgage Rates

News / Boston REIA

There have been multiple discussions about interest rates in the past few years. According to a graphic from Visual Capitalist, the 30-year fixed-rate mortgage has reached its highest level since 2002. This, coupled with rising home prices and limited inventory, has led to affordability being at its lowest point in history. Stay safe and have

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Black Knight Says Early-Stage Delinquencies Continue to Trend Up

Black Knight reports that early-stage delinquencies are on the rise.

News / Boston REIA

According to Black Knight’s latest Mortgage Monitor, the delinquency rate for loans in the U.S. increased by 4 basis points in August, reaching 3.17%. However, this rate is still nearly one percentage point lower than the average for the same period between 2015 and 2019. The report also highlights a decline in serious delinquencies, with

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High Mortgage Rates Weaken Builder Confidence

Builder confidence is undermined by high mortgage rates.

News / Boston REIA

High mortgage rates are a contributing factor to the weakening of builder confidence. The NAHB has reported that builder confidence in the market for newly built single-family homes has dropped below the key break-even measure of 50 for the first time in five months due to persistently high mortgage rates. According to the National Association

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What are the ways homeowners are utilizing their HELOCs?

News / Boston REIA

Recently, there has been a slowdown in HELOC activity after reaching a 15-year high in 2022. The Mortgage Bankers Association has provided data on how HELOCs have been utilized over the years. Home renovation and remodeling remain the primary reasons for utilizing HELOCs, followed by debt consolidation, emergencies, and other big-ticket financing. The MBA’s 2023

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Black Knight Says Inventory Levels Continue to Deteriorate

News / Boston REIA

According to Black Knight’s latest Mortgage Monitor, home prices saw their first monthly increase after 7 straight monthly declines as sales picked up on lower interest rates. However, they point out that available inventory levels continue to deteriorate. Indeed… “The unfortunate reality is that the scarce supply of inventory that’s the source of so much

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US Mortgage Delinquencies Fall for 22nd Straight Month

News / Boston REIA

According to the latest CoreLogic Loan Performance Insights Report, in January 2023, 2.8% of mortgages were delinquent by at least 30 days or more including those in foreclosure. This figure represents a 0.5-percentage point decrease in the overall delinquency rate compared with January 2022. CoreLogic says measuring early-stage delinquency rates is important for analyzing the

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