Governmental Measures Target Expanded Access to Affordable Housing 2 days ago December 13, 2017 3,028 Views Home / Daily Dose / The Three Big Mortgage Trends of 2018 Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe in Daily Dose, Featured, Journal, News mortgage trends TransUnion 2017-12-13 Staff Writer Previous: FHLBank of San Francisco Welcomes New Board Member Next: Yellen: Tax Reform Will Likely Provide ‘Some Lift’ to Economy Demand Propels Home Prices Upward 2 days ago Tagged with: mortgage trends TransUnion The lowest mortgage loan delinquency rates since 2005, a reduction in the share of refinanced mortgages, and the return of home equity line of credit (HELOCs) are trends to look for in the mortgage industry in the next year according to TransUnion’s 2018 consumer credit forecast released on Wednesday.Trend 1: Serious mortgage delinquency rates to fallAccording to the forecast, the mortgage delinquency rate is expected to drop to 1.65 percent by the end of 2018, the lowest observed since 2005, down from a rate of 1.91 percent for Q3 2017.“From a credit performance standpoint, mortgage loan delinquency rates are the biggest story and are expected to decline next year driven primarily by strong employment and rising home prices,” Matt Komos, VP of Research and Consulting at TransUnion said.The forecast states that increases to the labor participation rate, median household income, and home equity levels are additional factors impacting lower mortgage delinquency rates.Trend 2: Rising rates and refinancingWith interest rate increases expected in 2018, the forecast has projected continued reduction in the share of refinanced mortgages as a percentage of all mortgages. Industry forecasts have refinancing share dropping from 35 percent in 2017 to 28 percent in 2018.“Many existing homeowners already having refinanced into a low-interest rate mortgage may be unwilling or unable to move up due to how expensive housing has become. That lack of mobility can put pressure on the supply of entry-level housing,” Joe Mellman, SVP and TransUnion’s mortgage line of business leader said.Trend 3: Return of HELOCsHome equity line of credit is set to make a comeback in 2018 with TransUnion forecasting approximately 1.6 million HELOC originations in 2018. That stands in stark contrast to the previous five-year period when less than half that number were originated. According to the forecast, as rising home prices see many more homeowners tapping into their home equity, the three largest uses for HELOCs will be:Debt consolidation to a lower interest rateFinancing a large expense such as home improvementRefinancing an existing HELOC or Home Equity LoanFor more about the 2018 TransUnion Forecast, click here. Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Three Big Mortgage Trends of 2018 Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Print This Post
Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Investigators want to know who threw this dog away.Authorities are looking for those responsible for dumping a small dog that was found on Christmas Eve in a dumpster in West Islip.Suffolk County police responded Tuesday to a report that someone found a female Maltese-mix dog in a dumpster at the USA Gas Station on Montauk Highway, according to the Suffolk County SPCA.The dog, which was wearing a pink leash and a pink collar, was taken to an animal hospital for examination.The Suffolk County SPCA is offering a $2,000 reward for information leading to the arrest and conviction of those responsible for dumping the dog.Anyone with information can contact the Suffolk County SPCA at 631-382-7722. All calls will be kept confidential.