Mortgage Rates 11-15-17

By Joy Green Updated on 11/15/2017

The monthly Loan Performance Report put out by CoreLogic indicates improvements to the mortgage market, based on improvements to the overall delinquency rate. Mortgages 30+ days past due are at 4.6%, down .06% from August 2016. Within those numbers, mortgages only 30 days delinquent represent 2%of all mortgaged homes. A 2.1% drop year-over-year.

"The effect of the drop in crude oil prices since 2014 has taken a toll on mortgage loan performance in some markets," said Dr. Frank Nothaft, chief economist for CoreLogic. "Crude oil prices this August were less than half their level three years ago. This has led to oil-related layoffs and an increase in loan delinquency rates in states like Alaska and in oil-centric metro areas like Houston."  

There are 2 key factors in measuring the health of the mortgage market, according to CoreLogic, measuring the infant stages of delinquency and mortgage transition rates. 

"Serious delinquency and foreclosure rates are at their lowest levels in more than a decade, signaling the final stages of recovery in the U.S. housing market," said Frank Martell, president and CEO of CoreLogic. "As the construction and mortgage industries move forward, there needs to be not only a ramp up in homebuilding, but also a focus on maintaining prudent underwriting practices to avoid repeating past mistakes." 

Bookmark this page for mortgage rates:

 

• 30 year (FRM) rates at 4.02% (0.00%)
• 15 year (FRM) rates at 3.33% (+0.01%)
• FHA 30 year Fixed rates at 3.65% (0.00%)
• Jumbo 30 year Fixed rates at 4.18% (0.00%)
• 5/1 ARM rates at 3.22% (+0.02%)