According to the Mortgage Bankers Association this morning, US mortgage delinquencies rose to a record rate of 9.24% of all loans outstanding. At the same time, the rate of foreclosures fell slightly to 1.36% from 1.37%. What is interesting is that the rate of foreclosures actually fell for sub-prime ARMs, but rose for more traditional […]
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foreclosures
Initial jobless claims rose to 4K this week to 558K, compared to a previous revised reading of 554K and a Bloomberg consensus forecast of 543K. This number has been trending to lower, which indicates a slowing improvement for the US labor market. But, claims still remains far from healthy levels, and still indicates significant deterioration […]
We are continuously being barraged with mixed news concerning the housing crisis. One day we hear signs are pointing towards a bottom; the next housing numbers came in much lower than expectations. So we raise this question: What indicators should we be looking at to truly signal a recovery in housing? With this question in […]