Ice first look at monthly mortgage performance: delinquencies rose in september while foreclosure activity remained muted
The national delinquency rate rose to 3.29% in september, up 12 basis points (bps) from august and up +13bps year over year, marking only the second - and largest – annual increase in the past 2.5 years despite the rise, the delinquency rate is still 71bps below the level of pre-pandemic september 2019 loans 30 days past due rose by 48.8k (+5.1%) – marking the fourth consecutive monthly rise – while the 60-day delinquent population extended its own streak of increases (+8.7k; +3.0%) to six months at the national level, serious delinquencies (90+ days past due) rose by 7k to 455k, but remain 6.7% below september 2019 levels while overall delinquencies have risen, the number of loans in active foreclosure fell to 214k in september, its lowest point since march 2022 and some 25% below 2019 pre-pandemic levels foreclosure starts also declined, falling by -20.4% in the month to 25.4k, with completed sales falling by 8% from the month prior prepay activity (measured as single-month mortality) dropped to 0.45% under continued pressure from seasonal homebuying patterns confounded by interest rates north of 7%, and is down -26% year over year atlanta and new york , oct. 23, 2023 /prnewswire/ -- intercontinental exchange, inc. (nyse:ice), a leading global provider of data, technology, and market infrastructure, reports the following "first look" at september 2023 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market. total u.s. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.29%month-over-month change: 3.67%year-over-year change: 4.27% total u.s. foreclosure pre-sale inventory rate: 0.40%month-over-month change: -0.41%year-over-year change: -7.18% total u.s. foreclosure starts: 25,000 month-over-month change -20.45%year-over-year change: 4.81% monthly prepayment rate (smm): 0.45%month-over-month change: -15.51%year-over-year change: -25.74% foreclosure sales: 6,400month-over-month change: -7.52%year-over-year change: -6.42% number of properties that are 30 or more days past due, but not in foreclosure: 1,749,000month-over-month change: 64,000year-over-year change: 96,000 number of properties that are 90 or more days past due, but not in foreclosure: 455,000month-over-month change: 7,000year-over-year change: -132,000 number of properties in foreclosure pre-sale inventory: 214,000month-over-month change: -1,000year-over-year change: -13,000 number of properties that are 30 or more days past due or in foreclosure: 1,963,000month-over-month change: 64,000year-over-year change: 83,000 top 5 states by non-current* percentage mississippi: 7.92 % louisiana: 7.40 % alabama: 5.63 % indiana: 5.12 % pennsylvania: 5.04 % bottom 5 states by non-current* percentage california: 2.15 % idaho: 2.13 % montana: 2.05 % washington: 2.01 % colorado: 1.95 % top 5 states by 90+ days delinquent percentage mississippi: 2.16 % louisiana: 1.85 % alabama: 1.46 % arkansas: 1.21 % georgia: 1.19 % top 5 states by 12-month change in non-current* percentage rhode island: -9.28 % alaska: - 6.73 % connecticut: -4.36 % district of columbia: -4.16 % new york: -3.99 % bottom 5 states by 12-month change in non-current* percentage idaho: 16.65 % south dakota: 13.18 % hawaii: 13.10 % louisiana: 10.53 % arizona 8.98 % *non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.
