CoreLogic Releases August MarketPulse Report
August 15, 2013, Irvine, Calif. –
—Mortgage risk associated with natural hazards examined—
CoreLogic® (NYSE: CLGX), a leading residential property information, analytics and services provider, today released its August MarketPulse report. In this report, CoreLogic economists share their analysis of refinance activity in the U.S. housing market and also the role that natural hazard risk plays in managing mortgage portfolios.
Key findings include:
- Mortgage default risk is influenced by natural hazard risk.
- When a natural disaster occurs, a mortgage holder is almost twice as likely to default in high risk areas as compared to low risk areas.
- Miami has the greatest exposure to mortgage default risk due to natural hazards.
- Forecasts estimate that roughly 70 percent of the expected dollar volume of refinance originations for 2013 has already occurred.
- The recent increase in long-term mortgage rates has cut the share of outstanding mortgages with above-market rates by 25 percentage points.
For a full copy of the August CoreLogic MarketPulse report, including a complete set of data and charts, visit the MarketPulse page.
CoreLogic (NYSE: CLGX) is a leading property information, analytics and services provider in the United States and Australia. The company’s combined data from public, contributory and proprietary sources includes over 3.3 billion records spanning more than 40 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, transportation and government. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in seven countries. For more information, please visit www.corelogic.com.
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