Delinquency and Foreclosure Rates Decrease to 6.04% in Second Quarter. “Delinquency and foreclosure rates fell to their lowest levels in more than six years, and the rate of new foreclosure starts is at its lowest level since 2006,” said Mike Fratantoni, MBA’s Chief Economist. “Strong job growth and continued increases in home prices in most markets have been the main contributors to these steady improvements in mortgage performance.
Improving Financial Outlooks Could Help Housing – Fannie Survey. The gap between Americans who think it is a good time to buy a house and those who feel it is a good time to sell narrowed by six percentage points in July. This could indicate, Fannie Mae said today, a better balance between supply and demand.
Home Price Growth Slowdown a Mixed Trend for Economy. Home-price appreciation is slowing, a welcome trend for potential buyers but a troubling one for homeowners still looking for relief from underwater mortgages. Single-family housing prices rose 4.4% in the year that ended in the second quarter, the slowest annual pace since 2012, according to a report released Tuesday by National Association of Realtors.
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