REIT - Here Come The HELOCs: Mortgage Balances Delinquencies And Foreclosures

2024-02-08 11:22:00 ET

Summary

• Mortgage balances outstanding ticked up by 0.9% in Q4 from Q3, to a record of $12.3 trillion. Year-over-year, the increase was only 2.8%.
• HELOC balances jumped by 3.2% in Q4 from Q3, by 7.1% year-over-year, the 7th consecutive quarter of increases, and by 13% from two years ago.
• The number of consumers with foreclosures has edged up a little after the deep hole during the forbearance era when foreclosures essentially came to a halt and by 2021 had dropped to near zero.

When will it get messy? Not now.

Mortgage balances outstanding ticked up by 0.9% in Q4 from Q3, to a record of $12.3 trillion. Year-over-year, the increase was only 2.8%, according to data from the New York Fed’s Household Debt and Credit Report....

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