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Mortgage Rates Today, Friday, Dec. 23: Slight Dip; Foreclosure Starts Are Up

Dec. 23, 2016
Mortgage Rates, Mortgages
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Heading into Christmas weekend, mortgage rates are easing slightly with 30-year fixed loans and 5/1 ARM rates dipping and 15-year fixed loans remaining the same on Friday, according to a NerdWallet survey of mortgage rates published by national lenders this morning.

Mortgage Rates Today,
Friday, Dec. 23

(Change from 12/22)
30-year fixed: 4.49% APR (-0.02)
15-year fixed: 3.88% APR (NC)
5/1 ARM: 3.91% APR (-0.01)

Foreclosure starts rose in November, but still near 10-year lows

Some homeowners in the U.S. are struggling to repay their mortgage. Foreclosure starts increased nearly 7% in November over October, but were down by over 9% when compared with the same period last year, according to Black Knight Financial Services’ First Look report.

Overall, there were 60,400 foreclosure starts in November, up from 58,500 in October, Black Knight said. Despite the upward tick, however, foreclosure starts still remain near 10-year lows, Black Knight reported.

» MOREHARP: What you need to know

What’s worth watching is the number of loan delinquencies, which are loans that are 30 days or more past due but not yet in the foreclosure process. The total loan delinquency rate in November was 4.46% (2.26 million loans), up by 2.5% from the October rate of 4.35%, according to the report. In a press release, Black Knight called the slight uptick “a relatively mild seasonal increase by historical standards.”

Black Knight found that the following five states had the largest increases in the total number of both foreclosures and delinquent mortgages in the past six months:

  1. Louisiana (+10.59%)
  2. Wyoming (+10.08%)
  3. South Dakota, (+8.34%)
  4. Nebraska (+7.89%)
  5. Iowa (+7.45%)

Homeowners looking to lower their mortgage rate can shop for refinance lenders here.

NerdWallet daily mortgage rates are an average of the published APR with the lowest points for each loan term offered by a sampling of major national lenders. Annual percentage rate quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

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Deborah Kearns is a staff writer at NerdWallet, a personal finance website. Email: [email protected]. Twitter: @debbie_kearns.