Cash purchases are on the rise as Americans reap the benefits of a strong stock market. The S&P 500 Index has gained 36% in the past 12 months alone, as of July 14, 2021.
Based on CoreLogic's latest monthly Loan Performance Insights Report for April 2021, 4.7% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 1.4-percentage point decrease in delinquency compared to April 2020
International property broker Knight Frank's latest Global House Price Index is reporting that urban house prices worldwide are rising at their fastest rate since 2007 and of the 150 cities they track, 43 are now registering annual price growth above 10%.
Based on the Mortgage Bankers Association's latest Forbearance and Call Volume Survey, the total number of U.S. loans now in forbearance decreased by 4 basis points from 3.91% of servicers' portfolio volume in the prior week to 3.87% as of June 27, 2021.
According to CoreLogic's latest CoreLogic Home Price Index, converging pressures of severe inventory shortages and sustained demand pushed home prices to record highs in May 2021, with the year-over-year increase in home prices at its highest level since 2005.