Loan Performance Insights – April 2024
U.S. mortgage performance continued its strong run in February, with most stages of delinquency remaining near all-time 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 continued its strong run in February, with most stages of delinquency remaining near all-time lows.
U.S. single-family rents were up by 3.4% year over year in February, the highest rate of growth seen since last spring.
U.S. single-family home price growth was up by 5.5% year over year in February but gains are expected to slow over the rest of 2024.
The nation’s overall mortgage delinquency rate remained on solid ground in January at 2.8%, still close to a historic low.
U.S. rent growth continued to moderate year over year in January to 2.6%.
U.S. homeowners with a mortgage enjoyed more than $24,000 in annual equity gains in the fourth quarter of 2023.