Category Archives: Mortgage Markets

Chairman of the Index Committee

S&P Dow Jones Indices

February 28 - 10:46 am

RealtyTrac® (www.realtytrac.com), released its Q4 and Year-End 2012 U.S. Foreclosure & Short Sales Report™ on February 28th. The report shows a total of 947,995 U.S. properties in some stage of foreclosure or bank-owned (REO) were sold during the year, a decrease of 6 percent from 2011 and down 11 percent from 2010. These foreclosure-related sales accounted [...]

Also posted in Foreclosures, Shadow Inventory, Uncategorized | Tagged foreclosures, REO, short sales | Leave a comment

With Mortgage Defaults Rising Again, is the Underlying Health of Municipalities Getting Weaker?

J.R. Rieger

Vice President, Fixed Income Indices

S&P Indices

January 15 - 1:11 pm

Canary in the coal mine? With data from the S&P/Experian Consumer Default Indices showing first mortgage default rates have been ticking upward since September 2012, is this a sign that municipalities may see the weak economic cycle extended? Read the complete S&P/Experian Consumer Credit Default Indices Press Release.

Posted in Mortgage Markets | Tagged S&P Dow Jones Indices, S&P/Experian Consumer Credit Default Indices | Leave a comment

Consumer credit default rates improve again in August

Vice President

S&P Dow Jones Indices

September 19 - 11:59 am

On September 18th S&P Dow Jones Indices and Experian released August 2012 data for the S&P/Experian Consumer Credit Default Indices, which measure consumer credit default rates. August data showed declines in the composite, first mortgage and second mortgage default rates. The national composite declined to 1.50% in August from July’s 1.51% rate, the first mortgage [...]

Also posted in Consumer Credit, Economic Data | Tagged Consumer credit, Credit Default Indices, Experian, mortgages, S&P/Experian Consumer Credit Default Indices, S&P/Experian Consumer Default Indices | Leave a comment

Consumer credit default rates improve further in July 2012

Vice President

S&P Dow Jones Indices

August 23 - 10:32 am

On August 21st S&P Dow Jones Indices and Experian released July 2012 data for the S&P/Experian Consumer Credit Default Indices, which measure consumer credit default rates. July data showed a small decline in the composite index, while first mortgage default rate were unchanged and second mortgage default rates rose by two basis points. The national [...]

Also posted in Consumer Credit, Economic Data, Financial Markets | Tagged Credit Default Indices, Default Rates, Experian, latest results, S&P/Case-Shiller Home Price Indices report, S&P/Experian Consumer Credit Default Indices, S&P/Experian Consumer Default Indices | 1 Comment

Housing Boom or Bust in China

Chairman of the Index Committee

S&P Dow Jones Indices

August 5 - 5:54 pm

Recent news reports suggest that China’s economy is experiencing slower growth, around 8% vs 10% in recent past. Chinese economic policy is shifting towards stimulus despite some comments that inflation is creeping upward. Against this background questions about housing prices are being heard. Based on anecdotal comments heard “on the ground” during a recent visit [...]

Also posted in Asia-Pacific Market, Housing Data | 1 Comment

Consumers continue to repair their balance sheets

Vice President

S&P Dow Jones Indices

July 19 - 12:46 pm

On July 17th, S&P Dow Jones Indices and Experian released June 2012 data for the S&P/Experian Consumer Credit Default Indices, which measure consumer credit default rates. June data showed a decline in the composite index, led by an nine basis point drop in first mortgage default rates. Second mortgage default rates fell by even more [...]

Also posted in Consumer Credit, Economic Data, Other Housing Data | Tagged Chicago, Dallas, Experian, Los Angeles, Miami, mortgage, mortgages, New York, S&P/Experian Consumer Credit Default Indices, S&P/Experian Consumer Default Indices | Leave a comment

Foreclosure Activity Increased Nationally in 2nd Quarter

Chairman of the Index Committee

S&P Dow Jones Indices

July 12 - 8:49 am

Realty Trac reported second quarter and first half foreclosure activity today. Although overall foreclosure activity was down in the second quarter, driven primarily by a drop in bank repossessions (REOs), the number of properties starting foreclosure during the second quarter, 311,010 nationally, was up 9% from the previous quarter and 6% from the second quarter of 2011 — [...]

Also posted in Economic Data, Foreclosures, Shadow Inventory, Housing Data, Uncategorized | Tagged foreclosures | 1 Comment

Eminent Domain and Mortgages

Chairman of the Index Committee

S&P Dow Jones Indices

July 5 - 1:45 pm

Bob Shiller, in a recent New York Times column, discussed a novel approach to dealing with under-water mortgages. As suggested by Robert Hockett of Cornell University Law School, a local government could seize under-water mortgages through its power of eminent domain, compensate the mortgage owners and then re-issue new mortgages to home owners with principal [...]

Also posted in S&P/Case-Shiller Indices | Tagged David Blitzer, Economy and Real Estate, Robert Shiller, under-water mortgages | Leave a comment

First mortgage default rates decline by more than one-quarter of a percentage point in May

Vice President

S&P Dow Jones Indices

June 21 - 1:19 pm