New business at the Federal Housing Administration fell to a nine-month low, and a further drop is likely. Delinquency deteriorated. Meanwhile, the book of business continued to grow.

At the conclusion of November, FHA insurance in force was 8,596,795 residential loans for $1.3110 trillion, according to data from the Department of Housing and Urban Development.

The residential book of business expanded from 8,595,615 loans for $1.3088 trillion a month earlier and 8,456,057 loans for $1.2551 trillion a year earlier.

Source: Mortgage Daily