Skip to main content

First Mortgage Default Rate Holds Steady

Phil Hall
Nov 20, 2018
The default rate on first mortgages remained unchanged at 0.63 percent from September to October, according to data from the S&P/Experian Consumer Credit Default Indices

The default rate on first mortgages remained unchanged at 0.63 percent from September to October, according to data from the S&P/Experian Consumer Credit Default Indices.
 
The composite rate for the indices was also unchanged from September to October, resting at the 0.82 percent level. The bank card default rate fell by five basis points to 3.09 percent while the auto loan default rate seesawed upward by three basis points to 0.92 percent.
 
“Three times per year, the Federal Reserve surveys senior bank lending officers on their banks' credit and loan policies, including autos, mortgages and credit cards,” said David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. “The report shows that banks' standards for both auto loans and credit card borrowing are marginally tighter now than four months ago in the previous survey. The mortgage picture differs: 10 percent to 12 percent of the reporting banks indicate that lending standards are easier. The easier standards may be a response to the 25 percent to 30 percent drop in demand for mortgage loans reported by the same banks. The softness seen in existing homes sales is seen in the mortgage market."

 
Published
Nov 20, 2018
Planet Home Lending Reports Total Origination Volume Of $6.8B In Q2 2021

Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.

Industry News
Jul 22, 2021
FHFA Ends Controversial Refinance Fee

The FHFA announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries, starting August 1, 2021.

Analysis and Data
Jul 19, 2021
Interfirst Mortgage Launches ONE, Backed By Non-Owner Occupied Properties

ONE is a unique product built on a single interest rate with no adjustments and qualifies off the cash flow of the rental property.

Industry News
Jul 16, 2021
Global Digital Lending Market Projected To Reach $27B By 2028

The Global Digital Lending Platform Market was valued at $7.14 billion in 2020 and is projected to reach $27.07 billion by 2028.

Analysis and Data
Jul 14, 2021
FOMC Discusses Raising Interest Rates

Inflationary pressures have finally forced the Federal Open Market Committee (FOMC) to discuss raising interest rates and tapering its bond-buying program.

Analysis and Data
Jul 14, 2021
Fathom Holdings Inc. Creates New Hispanic Division

Fathom Holdings Inc., a technology-driven real estate platform, announced the creation of their Hispanic Division to more adequately serve this fast-growing demographic. 

Industry News
Jul 07, 2021