Here’s the latest data on the impact of Hurricanes Harvey and Irma on mortgages

How Hurricane Irma and Harvey will Affect Mortgage Loans. The number is much higher than predicted as more homes have been hit by the catastrophe, prompting the designation of new disaster zones. So as homeowners in Houston struggle to rebuild, they may also have a hard time making payments on their mortgages.

Insights include: The impact of hurricanes on local and national economies. Speed of recovery and duration of impact on labor and energy markets. Use of Hurricane Sandy as a baseline for comparison for consumer credit. Impact on auto loans, bank and credit cards, first mortgages and HELOCs.

 · Here Are Today’s Local Mortgage Rates: How the storms could impact rates Even if you weren’t in the path of Hurricane Harvey or Hurricane Irma, your mortgage rates may be affected.

The water temperature of the Gulf of Mexico was above average for this time of the year, and likely to be a factor in Harvey’s impact. Within a week of Harvey, hurricane irma formed in the eastern Atlantic, due to the similar conditions involving unusually warm seawater. Some scientists fear this may be becoming a ‘new normal’.

Additional guidelines for mortgage assistance options can be found here. Homeowners who have been affected by Hurricane Irma or Hurricane Harvey can find additional information here or by visiting the hurricane relief page on www.MBA.org. In addition, homeowners can reach out to Fannie Mae directly by calling 1-800-2FANNIE (1-800-232-6643).

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HURRICANE HARVEY ECONOMIC IMPACT ANALYSIS | SEPTEMBER 2017 | FIRST DATA COPRORATION. ALL RIGHTS reserved 4 hurricane IRMA ECONOMIC IMPACT ANALYSIS | SEPTEMBER 2017 | FIRST DATA CORPORATION. ALL RIGHTS RESERVED Hurricane Irma had sustained winds of 185 mph for 37 hours. the longest any hurricane/ cyclone/typhoon has

Hurricane Harvey struck the Texas Gulf coast on August 26, 2017 and dropped over 40 inches of water in some areas during the subsequent two days. A total of 88 people lost their lives5 due to this storm and 73,000 (3.4%) homes have either been destroyed (10,800 – 0.5%) or sustained major damage (62,000 – 2.9%).

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While the recovery continues in earnest, the economic impact to the region is also coming into focus. Today First Data (NYSE: FDC), a global leader in commerce-enabling technology, released two reports analyzing the magnitude of the impact that Hurricane Harvey and Hurricane Irma had on consumer spending.