A spirited discussion of real estate, jumbo loan lending and the economy.
Wednesday, October 12, 2011
Jumbo and Conforming Loan Rate Update
Mortgage Delinquency continues to be a problem. It is our view that this could take several more years to run it's course. Average days till a home goes from first missed payment to getting listed as a foreclosure is roughly 1.5 to 2 full years in most states. The chart below is showing that over 10.18% of all mortgages are at least 60 days this is down from 10.58% at the March 2011 report. A modest improvement...
This is against the backdrop of an ultra-low purchase and refinance environment for conforming and jumbo mortgage loans.