Loan Performance Insights – September 2023
September 28, 2023
U.S. mortgage performance remained on solid footing in July, with both overall delinquency and foreclosure rates continuing to hover near record lows.
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The Office of the Chief Economist works on critical research and insights to gauge the temperature of the housing market as a whole. From home price analyses to home equity, from loan performance to single family rent evaluations, they keep tabs on the movement and fluctuation of bellwether metrics that can inform the trajectory of the housing economy–and consequently affect the homeowners who participate in it.
U.S. mortgage performance remained on solid footing in July, with both overall delinquency and foreclosure rates continuing to hover near record lows.
U.S. annual single-family rent growth declined for the 15th straight month in July.
U.S. home prices began rebounding on an annual basis in July, rising by 2.5%.
U.S. homeowners with a mortgage gained nearly $14,000 in equity from the first quarter of 2023 to the second quarter.
Both U.S. overall mortgage delinquency and foreclosure rates remained at or near an all-time low in June.
Although U.S. rent growth continued to ease year over year in June, it remains near its long-term, pre-pandemic level.