{"id":1004105174,"date":"2014-10-07T05:39:19","date_gmt":"2014-10-07T13:39:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004105174"},"modified":"2022-12-08T11:17:41","modified_gmt":"2022-12-08T19:17:41","slug":"economy-watch-mortgage-delinquencies-consumer-spending","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-mortgage-delinquencies-consumer-spending\/","title":{"rendered":"Economy Watch: Mortgage Delinquencies, Consumer Spending"},"content":{"rendered":"

By Dees Stribling, Contributing Editor<\/em><\/p>\n

Black Knight Financial Services reported in its latest Mortgage Monitor on Monday that 5.9 percent of U.S. mortgages were delinquent in August, up from 5.64 percent in July. The company also reported that 1.8 percent of mortgages were in the foreclosure process in August, down from 2.66 percent in during the same month in 2013. According to Black Knight, delinquency begins at more than 30 days late.<\/p>\n

All together, 7.7 percent of mortgages were delinquent or in foreclosure by the company\u2019s calculation. Black Knight broke the data down as follows: 1,852,000 properties are 30 or more days, but less than 90 days, past due; 1,143,000 properties are 90 or more days delinquent, but not in foreclosure; and 913,000 loans in the foreclosure process.<\/p>\n

Newer loans tend to be in better shape. \u201cWe looked again at mortgage performance and found delinquencies in 2012-2014 vintage loans lower than any of the prior seven years,\u201d Kostya Gradushy, Black Knight\u2019s manager of Research and Analytics, noted in statement. \u201cIn fact, even among borrowers with lower credit scores, these vintages are outperforming all previous vintages. This holds true for FHA mortgages as well, where we found that early-stage delinquencies were lower than in all pre-2012 vintages.\u201d<\/p>\n

Gallup Reports Consumer Spending Drops in September\u00a0<\/strong><\/p>\n

Americans’ daily spending dropped to an average of $87 in September, down from $94 in July and August, according to Gallup on Monday. However, spending in September this year was slightly higher than the $84 average for September last year.<\/p>\n

The drop in spending Gallup found in September isn\u2019t unusual. Since 2010, spending has dropped each year between August and September, although the size of the drop has varied. The consistent declines may be the result of increased spending in August, thanks to back-to-school purchases and summer vacations.<\/p>\n

September’s $7 drop in average spending is comparable with past August-to-September drops. Last year, for instance, the drop was $11. Monthly averages in self-reported spending so far in 2014 have mostly exceeded average spending for the corresponding month in 2013, and especially so for 2009 to 2012, when averages were in the $60 to $70 range. Still, this year’s monthly averages are still lower than the nearly $100 averages seen in 2008.<\/p>\n

The findings are based on Gallup interviews with more than 14,000 Americans throughout September. The poll asks Americans to report the total amount they spent “yesterday” in stores, gas stations, restaurants, or online — not counting home and vehicle purchases, or normal monthly bills — and gives an indication of their discretionary spending.<\/p>\n

Wall Street ended the day down on Monday, with the Dow Jones Industrial Average losing 17.78 points, or 0.1 percent. The S&P 500 declined 0.16 percent and the Nasdaq was off 0.47 percent.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Black Knight Financial Services reported that 5.9 percent of U.S. mortgages were delinquent in August, up from 5.64 percent in July. And Americans’ daily spending dropped to an average of $87 in September, down from $94 in July and August.<\/p>\n","protected":false},"author":1023,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004105174","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"\nEconomy Watch: Mortgage Delinquencies, Consumer Spending - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-mortgage-delinquencies-consumer-spending\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy Watch: Mortgage Delinquencies, Consumer Spending\" \/>\n<meta property=\"og:description\" content=\"Black Knight Financial Services reported that 5.9 percent of U.S. mortgages were delinquent in August, up from 5.64 percent in July. And Americans' daily spending dropped to an average of $87 in September, down from $94 in July and August.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-mortgage-delinquencies-consumer-spending\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-10-07T13:39:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T19:17:41+00:00\" \/>\n<meta name=\"author\" content=\"Dees Stribling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-mortgage-delinquencies-consumer-spending\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-mortgage-delinquencies-consumer-spending\\\/\"},\"author\":{\"name\":\"Dees Stribling\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/dc1e9fa4ee0430d86f8e60cd697c953c\"},\"headline\":\"Economy Watch: Mortgage Delinquencies, Consumer Spending\",\"datePublished\":\"2014-10-07T13:39:19+00:00\",\"dateModified\":\"2022-12-08T19:17:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-mortgage-delinquencies-consumer-spending\\\/\"},\"wordCount\":441,\"commentCount\":0,\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-mortgage-delinquencies-consumer-spending\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-mortgage-delinquencies-consumer-spending\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-mortgage-delinquencies-consumer-spending\\\/\",\"name\":\"Economy Watch: Mortgage Delinquencies, Consumer Spending - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"datePublished\":\"2014-10-07T13:39:19+00:00\",\"dateModified\":\"2022-12-08T19:17:41+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/dc1e9fa4ee0430d86f8e60cd697c953c\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-mortgage-delinquencies-consumer-spending\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-mortgage-delinquencies-consumer-spending\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-mortgage-delinquencies-consumer-spending\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Economy Watch: Mortgage Delinquencies, Consumer Spending\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/dc1e9fa4ee0430d86f8e60cd697c953c\",\"name\":\"Dees Stribling\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/42add8af9e9229ed27332ad13f5b8c6f6ae89de868a41cf81baaac4ad46e589a?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/42add8af9e9229ed27332ad13f5b8c6f6ae89de868a41cf81baaac4ad46e589a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/42add8af9e9229ed27332ad13f5b8c6f6ae89de868a41cf81baaac4ad46e589a?s=96&d=mm&r=g\",\"caption\":\"Dees Stribling\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/dcstribling\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Economy Watch: Mortgage Delinquencies, Consumer Spending - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/economy-watch-mortgage-delinquencies-consumer-spending\/","og_locale":"en_US","og_type":"article","og_title":"Economy Watch: Mortgage Delinquencies, Consumer Spending","og_description":"Black Knight Financial Services reported that 5.9 percent of U.S. mortgages were delinquent in August, up from 5.64 percent in July. And Americans' daily spending dropped to an average of $87 in September, down from $94 in July and August.","og_url":"https:\/\/www.commercialsearch.com\/news\/economy-watch-mortgage-delinquencies-consumer-spending\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2014-10-07T13:39:19+00:00","article_modified_time":"2022-12-08T19:17:41+00:00","author":"Dees Stribling","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-mortgage-delinquencies-consumer-spending\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-mortgage-delinquencies-consumer-spending\/"},"author":{"name":"Dees Stribling","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/dc1e9fa4ee0430d86f8e60cd697c953c"},"headline":"Economy Watch: Mortgage Delinquencies, Consumer Spending","datePublished":"2014-10-07T13:39:19+00:00","dateModified":"2022-12-08T19:17:41+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-mortgage-delinquencies-consumer-spending\/"},"wordCount":441,"commentCount":0,"articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/economy-watch-mortgage-delinquencies-consumer-spending\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-mortgage-delinquencies-consumer-spending\/","url":"https:\/\/www.commercialsearch.com\/news\/economy-watch-mortgage-delinquencies-consumer-spending\/","name":"Economy Watch: Mortgage Delinquencies, Consumer Spending - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"datePublished":"2014-10-07T13:39:19+00:00","dateModified":"2022-12-08T19:17:41+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/dc1e9fa4ee0430d86f8e60cd697c953c"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-mortgage-delinquencies-consumer-spending\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/economy-watch-mortgage-delinquencies-consumer-spending\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-mortgage-delinquencies-consumer-spending\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Economy Watch: Mortgage Delinquencies, Consumer Spending"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/dc1e9fa4ee0430d86f8e60cd697c953c","name":"Dees Stribling","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/42add8af9e9229ed27332ad13f5b8c6f6ae89de868a41cf81baaac4ad46e589a?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/42add8af9e9229ed27332ad13f5b8c6f6ae89de868a41cf81baaac4ad46e589a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/42add8af9e9229ed27332ad13f5b8c6f6ae89de868a41cf81baaac4ad46e589a?s=96&d=mm&r=g","caption":"Dees Stribling"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/dcstribling\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004105174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1023"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004105174"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004105174\/revisions"}],"predecessor-version":[{"id":1004631637,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004105174\/revisions\/1004631637"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004105174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004105174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004105174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}