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CoreLogic

CoreLogic (NYSE: CLGX) is a leading global property information, big data and technology solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk.

January 13, 2021 / Real Estate

Serious Delinquencies Inch down

From CoreLogic
In October 2020, 6.1% of home mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure), a small decrease from September 2020, but a 2.4-percentage point increase from October 2019, according to the latest CoreLogic Loan Performance Insights Report.
January 12, 2021 / Real Estate

Rental Market: Tenant Mobility, Rents and Property Prices

From CoreLogic
Applications by prospective tenants for a rental home generally pick-up each spring. The President’s declaration of a national emergency on March 13 triggered Shelter-In-Place restrictions and disrupted the seasonal rise. By the end of March applications for rental homes were down 42% from the same period one year earlier.
January 6, 2021 / Real Estate

Home Prices Surged as Demand Remained Strong

From CoreLogic
National home prices increased 8.2% year over year in November 2020, according to the latest CoreLogic Home Price Index (HPI®) Report. The November 2020 HPI gain was up from the November 2019 gain of 3.7% and was the highest year-over-year gain since March 2014. Home sales for the year are expected to register above 2019 levels. Meanwhile, the availability of for-sale homes has dwindled as demand increased and coronavirus (COVID-19) outbreaks continued across the country, which delayed some sellers from putting their homes on the market.
January 4, 2021 / Economy

U.S. Case-Shiller Home Price Index Closes 2020 with a Bang

From CoreLogic
As the last housing market indicator in 2020, the S&P CoreLogic Case-Shiller Index finishes the year on a high note during this trying year. Home purchase activity remained consistently elevated through the end of the year, with some expected seasonal slowdown turning up as winter months approached. Still, the slowdown appears to be smaller than in a typical year.
December 22, 2020 / Economy

U.S. For-Sale Home Supply Tightened during Pandemic, Pushing Up Home Prices

From CoreLogic
After the pandemic took hold in the U.S. in early 2020, stay-at-home orders and uncertainty in the economy delayed listings from going live on the market. The typical spring home buying season was pushed into summer in 2020 and continued into fall. Meanwhile, low interest rates motivated home buyers.
December 17, 2020 / Economy

More Than a Third of Forbearance Loans Have Not Made a Payment Since May

From CoreLogic
Six months after the CARES Act was signed into law on March 27, 2020, mortgage forbearances remain elevated as millions of Americans sought payment relief after the onset of the COVID-19 pandemic. Beginning in April, forborne loans falling behind payment have become a significant presence in recorded mortgage delinquencies (Figure 1), representing over two-thirds of all delinquent loans
December 16, 2020 / Economy

Single-Family Rent Growth Returned to Pre-Pandemic Rate in October

From CoreLogic
U.S. single-family rent growth strengthened in October, increasing 3.1% year over year, showing solid improvement from the low of 1.4% reported for June 2020, and up from the 2.9% rate recorded for October 2019, according to the CoreLogic Single-Family Rent Index (SFRI)
December 11, 2020 / Economy

Record Low Mortgage Rates Generated a Refinance Boom in 2020

From CoreLogic
Mortgage rates have hit record lows in 2020, generating a refinance boom as borrowers seek to save on their mortgage payments. CoreLogic has been monitoring the share of outstanding mortgage debt with interest rates above the current market rates and found that a large share of current mortgage borrowers could benefit from a refinance.
December 9, 2020 / Economy

Serious Delinquencies Level Off

From CoreLogic
In September 2020, 6.3% of home mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure), a small decrease from August 2020, but a 2.5-percentage point increase from September 2019, according to the latest CoreLogic Loan Performance Insights Report.
December 4, 2020 / Real Estate

Three-Year Housing and Mortgage Outlook

From CoreLogic
2020 was a truly unprecedented year. With it behind us, let’s look ahead at three housing market trends that are likely during the next three years. First, exceptionally low mortgage rates are likely to be around for an extended period. We expect 30-year fixed-rate loans to remain below 3% during early 2021 and average about 3.2% during the next three years.
December 2, 2020 / Real Estate

Annual U.S. Home Price Appreciation in October Fastest Since April 2014

From CoreLogic
National home prices increased 7.3% year over year in October 2020, according to the latest CoreLogic Home Price Index (HPI®) Report. The October 2020 HPI gain was up from the October 2019 gain of 3.5% and was the highest year-over-year gain since April 2014. The pandemic has shifted home buyer interest toward detached rather than attached homes as detached homes have more living area and tend to be located in less densely populated neighborhoods.
November 30, 2020 / Real Estate

U.S. Case-Shiller Home Price Index Shows No Sign of Easing in September

From CoreLogic
While 2020 has left little to be surprised about, the home purchase market has surprised for the better. Strong home buying activity continued to soar into autumn, with September reaching the strongest annual growth since pre-Great Recession.
November 23, 2020 / Economy, Real Estate

U.S. Home Price Forecast Remains Positive

From CoreLogic
Following the temporary housing market freeze during April’s nation-wide shutdowns, national sales of homes during the summer outpaced last year’s levels with September sales averaging 10% higher compared to last September. And according to the latest home buying contracts signed, also known as Pending Sales, the positive trend is expected to continue in the autumn.
November 18, 2020 / Real Estate

Single-Family Rent Growth Gained Strength in September, But Still Below Pre-Pandemic Rates

From CoreLogic
U.S. single-family rent growth strengthened in September, increasing 2.5% year over year, showing solid improvement from the low of 1.4% reported for June 2020, but a slowdown from the 3% rate recorded for September 2019, according to the CoreLogic Single-Family Rent Index (SFRI).
November 16, 2020 / Economy

Pending Sales Provide a Short-term Price Forecast

From CoreLogic
The CoreLogic Home Price index has reported quickening appreciation in home values since May, and in September annual price growth was more than two percentage points faster than one year earlier. The acceleration in price growth reflected a demand and supply imbalance.
November 11, 2020 / Economy, Real Estate

Serious Delinquencies Build

From CoreLogic
In August 2020, 6.6% of home mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure)\[1\], unchanged from July 2020, but a 2.9-percentage point increase from August 2019, according to the latest CoreLogic Loan Performance Insights Report.
November 10, 2020 / Economy, Real Estate

Behind the Paradox of Rising Mortgage Delinquencies amid Rising Home Prices

From CoreLogic
Recent loan performance data from CoreLogic shows that the nation’s overall mortgage delinquency rate – the proportion of mortgage loans falling 30 or more days behind scheduled payment, including loans in foreclosure – have risen quickly during the COVID-19 pandemic, as millions of Americans lost their jobs and income due to the economic shutdown.
November 9, 2020 / Real Estate

Homeowner Equity Gains Key in Protecting California’s Housing Markets

From CoreLogic
Unlike the Great Recession, the speedy intervention provided by the CARES Act ensured mortgage forbearance options for homeowners who were financially harmed by the pandemic recession and had a federally backed loan. And while forbearance options will help some homeowners keep their homes, the path of employment rebound – which is still unclear - will be a critical determinant for many delinquency outcomes.
November 6, 2020 / Real Estate

Jumbo-Conforming Mortgage Rate Spread Widened During the Pandemic

From CoreLogic
The COVID-19 pandemic has had a big effect on the mortgage market. Along with a drop in mortgage rates to a record low, the jumbo-conforming mortgage rate spread has also been affected. Before 2013 mortgage rates for jumbo loans were higher than for conforming loans. However, in 2013 the rate-difference fell, and jumbo rates have averaged 5 basis points lower than conforming during 2013-2019.
November 4, 2020 / Economy, Real Estate

Annual U.S. Home Price Appreciation Jumped to Six-Year High in September

From CoreLogic
National home prices increased 6.7% year over year in September 2020, according to the latest CoreLogic Home Price Index (HPI®) Report. The September 2020 HPI gain was up from the September 2019 gain of 3.5% and was the highest year-over-year gain since May 2014.