Skip to main content

New Increases in First and Second Mortgage Default Rates

Phil Hall
Nov 21, 2017
The serious delinquency rate for mortgage loans declined from 1.67 percent in the first quarter to 1.37 percent at the end of the second quarter, according to new data from TransUnion

Default rates on first and second mortgages were up in October, according to the latest S&P/Experian Consumer Credit Default Indices report.
 
The first mortgage default rate was 0.67 percent last month, up one basis point from September but below the 0.70 percent rate from one year earlier. The second mortgage default rate rose from 0.53 percent in September to 0.79 percent in October; in October 2016, that default rate was 0.58 percent. The composite rate for consumer credit defaults rose two basis points to 0.90 percent, fueled by the 13-basis-point spike in the bank card default rate to 3.28 percent.
 
“For the first time since January 2017, the default rates for autos, bank cards and mortgages all rose together,” said David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices, who added that the data “does not suggest any unusual financial stress facing consumers which would explain the small, but across the board, increases in the default rates.”

 
Published
Nov 21, 2017
Enact Holdings Completes IPO

Genworth Financial Inc. announced the completion of the initial public offering for its subsidiary Enact Holdings Inc.

Industry News
Sep 21, 2021
Offerpad Expands Into Kansas City, St. Louis

Tech-Enabled Platform For Real Estate Transactions Now In 20 Markets

Industry News
Sep 20, 2021
KBRA Assigns Preliminary Ratings To RCKT 2021-4

Includes 1,002 Residential Mortgages With An Aggregate Principal Balance Of $968.4M

Industry News
Sep 20, 2021
KBRA Assigns Preliminary Ratings To SEMT 2021-6

Pool Of 497 First-Lien Loans Combined Have A Principal Balance Of Nearly $449M

Industry News
Sep 16, 2021
Fugo Appoints Bahlman As VP, Client Relations & Sales

Brings 19 Years of Experience To Texas-Based Back-Office Support Company

Industry News
Sep 16, 2021
Envoy Mortgage Expands To Atlanta

Envoy Mortgage lender expanded its Southeast operations to Atlanta, GA.

Industry News
Sep 15, 2021