NEWS ALERT: U.S. Mortgage Delinquencies Spike

U.S. mortgage delinquencies spiked in June to the second highest level in 18 months. In today’s video, I explain why. I also share an update on foreclosures as well as the states that have the highest and lowest mortgage delinquency rates.

This is your latest US foreclosures update! See the links below for the sources of the reports. Thank you for watching the video! I appreciate you. Please like, share this video and subscribe!

Watch THIS Before Purchasing a Foreclosure:

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Compilation of Housing Market Forecast videos:

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 6.9% for the current mortgage rates (at the time of filming this video for borrowers with exceptional credit).

Comment below: what’s your housing market forecast? Do you think a housing crash will happen or are your housing market predictions that the real estate market and home prices will continue to surge?

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Jason Walter, CPA (inactive CPA lic 103885)
Sacramento real estate agent and native (DRE 01923240)
Mortgage Loan Officer, NMLS 2566691
Revest Homes (DRE 02174879, NMLS 2362319)

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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video - it is for entertainment purposes only.

This video description may contain affiliate links that allow you to easily find the items mentioned in my videos as well as support the channel at no cost to you. Thank you for your support! Jason Walter is a licensed real estate agent and mortgage loan originator with Revest Homes in California (DRE 02174879, NMLS 2362319).

For informational purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Equal housing lender.

#foreclosures #housingmarket #foreclosedhomes

[wydryfly]

If homeowners can’t afford to pay their mortgage now, most likely they won’t afford it in 6-12 months either. The number of delinquencies will rise substantially especially with property taxes and insurance premiums almost doubling. I know this has been said prior, but the reality is that out-of-control Inflation has led us down this path.

[aliciahernandez]

“becaude the month ended on a weekend”🤣🤣🤣

[raymond_sycamore]

Existing housing market completely dead...

[anthonybanks]

Thanks Jason for the update. If you recall I had a question on the last video regarding delinquencies as compared to what Melody was sharing. Looks like she may of had the data earlier before it was published and discussed by ICE. Looks like all of the data points are saying the same thing.

I'm not buying the ICE explanation on the calendar driven spikes. Credit card delinquencies and auto loan delinquencies are also increasing and as Americans are struggling to pay off these items, now they are becoming cash strapped to pay their mortgage on time. I don't believe it's a sign of a crash but the trends are definitely not in a positive direction and doesn't seem to fit the narrative you hear in main stream media that talks about how great the economy is or that folks are misinformed about the state of the economy.

[JimFriend-iwev]

1.8M people with 30 day "delinquencies" due at least in part to where the end of the month fell on a weekend. Even if EVERY SINGLE one of those people foreclosed that would still be about HALF the amount that occurred in 2008. In reality we are still way, way below historical averages.
In other words. Still no "crash" and still not remotely close to one. Crash bros continue to weep and make themselves look ridiculous. 👍

[brucemorales]

I think the having the same companies who own a large portion of the market, publishing how the market is behaving is a conflict of interest. If it doesn't fit their narrative, they twist the data until it does. Figures lie, and lairs figure. No independent, non-biased data source exists for this crucial market for the economy.

[mogilskim]

Grate knowledge and excellent presentation, could you do one on comercial multifamily delinquency?

[carnivalgods]

Thanks a lot Jason. If I remember Fannie Mae released a report some weeks ago indicating prepandemic level delinquincy rate was 3.5% and the current delinquency rate at the time was like 3.2%. Still of course trailing c.c. and auto delinquincies which had already exceeded ppl. This data indicates mortgage delinquency and ppl delinquency have just now high fived....or low fived as it were. Thanks for taking time to deliver the data. And Kudos on the Texas data dive. Its truly on an interesting path.

[CurtisLoew-qq]

Didn’t we moratorium on foreclosures and reporting said delinquencies? Yes we did.

[luisdavidllense]

On the lookout for when Florida pops up on the top 5 for delinquencies. Worlds will turn.

[Pragmatistst]

I've been looking at trying to go to the county steps in my state to bid/buy a foreclosed home. The foreclosures have been going up every month since I started looking in May. Thing is, I have not been able to outbid investors. That madness has to stop. Investors and corporate landlords should not be able to buy houses out from under regular people. We should at least have first dibbs.

[georgedoolittle]

United Parcel Service getting annihilated today so might be a leading indicator most definitely is a leading indicator for recession. Lost half its market cap as has Nike Starbucks etc hardly complex businesses been around forever all. Not sure what to make of the ongoing Washington DC situation which is still unfolding #coup not hiding it either.

[bonglee]

Gotta love how Jason heart the non crash bros and keep thinking this type of housing market is normal 😅.

[RTHinesley]

FYI - it’s pronounced ice … as in the solid form of water, not eye see ee.

[mbanderson]

Keep in mind Black Knight only has a fraction of housing data.

[Courtney-Alice-Gargani]

People have to miss at least four mortgage payments to be considered maybe under foreclosure. And I heard when it comes to foreclosure it can take almost like a year before the Bank can take the house.

[pristinedetailing]

Unemployment will continue to rise.
SAHM Rule will be triggered.
By the time the FED cuts rates it will be to late.
Banks have 600+ billion in unrealized losses
Yield curve is signaling a bull steepening
CEO are resigning in record numbers
Top Investors are cashing out of the markets
Foreign Investors have almost stopped buying real-estate in the US
Auto delinquencies and credit card delinquencies continue rising
History always repeats itself.

The music is slowing...

To the replies below: I love you

[TarmacSkin]

Amazing Data! All so well explained that Im sure the crash is almost here…

[JoeGarcia-cgpp]

Lets help Jason reach 100k subs 🎉🎉🎉🎉💰💰💰💰