Property Valuation: Health of the Housing Market in the Top 100 Cities Part II
13 Markets Overvalued Based on Fundamental and Speculative Metrics In Part I[1] of this series we evaluated the top 100 Core Based Statistical Areas (CBSAs) using CoreLogic Market Condition Indicators (price-to-income) and the price-to-rent metrics which classified 21 markets as overvalued. Figure 1 shows the distribution of these CBSAs. According to Joseph Stiglitz’s (1990)[2] definition […]
Mortgage Performance: What Are They Waiting For
Why Don’t High-Mortgage-Rate Loans Get Refinanced? In a recent blog we looked at the refinance option for outstanding first mortgages in the CoreLogic servicer-contributed database. We found that most mortgages have interest rates low enough that refinancing would not be a money-saving venture. But what is happening with those borrowers holding mortgages with interest rates […]
Property Valuation: Negative Equity Update Second Quarter 2016
Negative Equity Share Falls to 7 Percent in Second Quarter 2016 The negative equity share fell to 7.1 percent in Q2 2016 from 8.9 percent in Q2 2015. Only Connecticut and North Dakota saw increases in negative equity share over the past year, but the increases were minimal. Negative equity remains low in the oil-patch […]
Mortgage Performance: Foreclosure Report Highlights July 2016
National Foreclosure Inventory Down 29 Percent Year Over Year The foreclosure inventory fell 29 percent year over year in July 2016. The inventory of mortgages in serious delinquency fell 17 percent year over year in July 2016. All states except North Dakota and Wyoming had a year-over-year decrease in the serious delinquency rate. The national […]
Housing Policy: Notes from the Hill Mortgage Servicing
CoreLogic Hosts Event on Emerging Issues in the Servicing Industry In late August, CoreLogic partnered with the Urban Institute to co-host a seminar that highlighted Emerging Issues in Mortgage Servicing. The event was the ninth in our Sunset Seminar series, sponsored by CoreLogic and the Urban Institute, which focuses on public policy issues relevant to […]
Audio: Home Price Index Audio Clip July 2016
National Home Prices Increased 6 Percent Year Over Year in July 2016 Home prices including distressed sales increased 6 percent year over year in July 2016 and are forecast to increase by 5.4 percent over the next year. The highest appreciation was in the West, with Oregon and Washington growing by double digits in […]
Property Valuation: Home Price Index Highlights July 2016
National Home Prices Increased 6 Percent Year Over Year in July 2016 Home prices including distressed sales increased 6 percent year over year in July 2016 and are forecast to increase by 5.4 percent over the next year. The highest appreciation was in the West, with Oregon and Washington growing by double digits in June. […]
Housing Trends: Return to Cities or Heading for the Hills
Urban Rebound Causes Large Shift in Lower Credit Borrowers to Seek the Outer Suburbs American homebuyers are on the move, but maybe not in the direction that most people think. The much-discussed “return to the cities” movement is happening, but from a mortgage industry perspective it may be something of a “head-fake.” While there is […]
Videos: U.S. Economic Outlook September 2016
Multifamily Mortgage Lending at All-Time High – 2016 On Track to Set New Dollar-Volume Record A comparison of the rental apartment industry with the single-family home sector is like a tale of two cities. The rental market continues to show historic strength while single-family housing activity remains subpar. Rental vacancy rates are at 30-year […]
Mortgage Performance: Escrow Overcharges and Delayed Refunds Can Lead to Increased CFPB Complaints
Refunds from escrow accounts are Granger-causing CFPB complaints Consumer Financial Protection Bureau (CFPB) complaints are difficult to track and address, but they can potentially cause significant reputational damage to mortgage lenders and servicers if common issues in the complaints are not handled properly. Using CoreLogic tax servicing data to evaluate the reasons for CFPB complaints, […]
