About 4.2% of all mortgages in the nation were in some stage of delinquency, meaning 30 days or more past due, including loans in forbearance, the report said.
The U.S. economy added 194,000 jobs in September, the slowest pace in more than a year, according to the Bureau of Labor Statistics.
About 1.4 million U.S. homeowners with mortgages remain in Covid-19-related forbearance plans this week, the lowest since the beginning of the pandemic, Black Knight said in a report.
Mortgage rates edged lower this week as bond investors waited for Friday’s employment report to gauge when the Federal Reserve will start tapering its purchases of fixed assets.
Mortgage refinancing applications dropped to a three-month low last week as interest rates rose, the Mortgage Bankers Association said in a report on Wednesday.
Biden's first-time homebuyer tax credit is likely to be one of the first casualties as Congress pares down its $3.5 trillion reconciliation bill, according to a report.
Mortgage rates are rising as the investors who influence housing finance react to a Fed decision to taper bond purchases that supported the economy during the pandemic.
An index measuring signed contracts for existing homes rose 8.1% in August, NAR said in a report on Wednesday. That’s more than five times the 1.4% gain expected by economists.
