Prepayment activity drops to another record low as mortgage rates top 7%
Black Knight expects that the steep declines in rate lock volume and seasonality factors point to further declines in prepayment activity.
Source: housingwire.com
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Housing: Median mortgage payment reaches record high in October
The national median monthly payment increased 3.7% to $2,012 in October from $1,941 in September.
Source: aol.com
Americans keep signing up for credit cards but pull back on other credit
The application rate for credit cards increased to 27.1% in October 2022, up from 26.5% last year.
Source: aol.com
Hurricane Ian impact led to increase in missed payments, forbearances
As the share of forborne loans increased for the first time in more than two years, servicers are cautiously eyeing data trends but appear equipped to handle storm-related distress.
Source: nationalmortgagenews.com
Prepayment activity reaches 22-year low on spiking interest rates
Despite rising inflation, potential for looming recession, the mortgage market is in a strong position.
Source: housingwire.com