There were 49,000 completed foreclosures in June, down 35 percent nationally from a year ago, while the seriously delinquent rate is at 4.3 percent, the lowest since August 2008 reported CoreLogic this week. But even with this good news, and mortgage rates remaining stable, the first mortgage market is in the doldrums.
While the top 10 funders of second-lien mortgages wrote $4.6 billion of such loans in the first quarter, up 44% from a year earlier, according to MortgageStats.com. Incredible!
Community bankers surveyed lately reflect the fact that banking on the local level has not changed, improving the customer’s experience and meeting their customers changing needs is still the priority, according to the advisory firm KPMG.