Forbearance Rate Rises With Loan Credit Risk
CoreLogic data shows that the forbearance rates were increased for higher-priced loans.
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Archana Pradhan holds the position of principal, economist as part of the Office of the Chief Economist at CoreLogic. With years of experience in housing economics, applied econometrics and spatial analysis, she is responsible for analyzing housing and mortgage markets.
Prior to joining CoreLogic, she was program manager and senior research analyst at the National Community Reinvestment Coalition. She earned her doctorate in natural resource economics from West Virginia University.
CoreLogic data shows that the forbearance rates were increased for higher-priced loans.
In terms of both dollars and market share, jumbo mortgage originations grew significantly in 2021 relative to the prior year.
Historically, large-balance mortgage loans, known as ‘jumbo’ loans, have had a higher interest rate than conforming loans.[1] However, since mid-2013, the interest rate for a jumbo loan was lower than a conforming loan until June 2020.
Conventional Mortgage Lending in Underserved Areas Dropped During the Early Months of Pandemic
An increasing number of millennials, those born from 1981 to 1996, are in or are approaching their first-time homebuying years.
As more people are vaccinated and the economy improves, homebuyers’ location choices are shifting once again. This analysis highlights trends in owner-occupant homebuyer migration through July 2021.