CoreLogic’s Loan Performance Insights report for September 2017 could be considered disappointing but should note the inventory of homes in foreclosure are down from 0.8% in September 2016 to 0.6% in September 2017. Loans 30 days or more past due increased 0.4% to 5% from the month prior but are still down from a year ago. October’s report will be interesting given it will lend more insight into the impacts from recent natural disasters in Texas and Florida. Any rise in delinquencies we saw in the September report is not a sign of housing deterioration: “the economic fundamentals that drive mortgage credit performance are the best in two decades.”
Even with rising home prices it’s still a great time to invest in real estate. Today’s low mortgage rates help and location is everything.
A possible residency requirement in the proposed tax reform bill has Redfin predicting fewer home sales in the future because homeowners will stay in their homes longer. It’s an interesting prediction considering more and more homeowners are already staying in their homes longer and longer.