ICE March 2024 Monthly Report

This is the ICE March 2024 monthly report that I got a lot from again. This is the video of the presentation too.

Interesting facts that I want to point out.

• First-Time Homebuyers Make Up Record 47% of GSE Purchase Loans. GSE is Government Sponsored Enterprise which in this instance means Fannie Mae and Freddie Mac and they hold approximately 70% of all US loans.
• Foreclosure starts are up 47% month over month. Highest foreclosure starts in 21 months.
• Though (real estate loan) originations hit a 30-year low in 2023, ICE eMBS (Mortgage-Back Secures online) data shows first-time homebuyers (FTHB) made up the highest share of agency purchase security issuance in at least 10 years.
• The national mortgage delinquency rate is 3.38%. This is very significant. We aren’t seeing the impact of this yet.