unemployment

Delinquencies Fall To Record Low

Posted on by TMN Editor
The overall mortgage delinquency rate fell to a record low in March, according to new data from CoreLogic. Just 2.6% of all mortgages in the U.S. were in some stage of delinquency, down 0.3% from March 2022 and 0.4% from the month prior. This is the lowest level ever recorded. CoreLogic chalks it up to the country’s unemployment rate, which is at a 50-year low.   Serious delinquencies in particular benefitted, down 1.5% YOY to 1.1% of all mortgages, a 23-year low. Early-stage delinquencies (1.1%) and adverse delinquencies (0.3%) were unchanged YOY. The share of mortgages in some stage of foreclosure (0.3%) and the share that transitioned from current to early-stage (0.5%) were also unchanged from the same time last…

A New Gold Rush For Lenders? Benefitting From The Great Resignation

Posted on by TMN Editor
By KIMBERLEY HAAS As the COVID-19 pandemic continues and workers reevaluate their commitment to metropolitan life, lenders in smaller cities stand to benefit from what is being termed the “Great Resignation.” It is estimated that about 4.4 million Americans quit their jobs in September after months of dramatic departure numbers, which means those employees are looking for and taking new jobs, often choosing to live in a different location if they have the option of working remotely. Since 87% of employees say they would like to work remotely at least one day a week, and one in three workers would not want to work for an employer that required them to be onsite full time, potential homebuyers are taking these…