The national mortgage delinquency rate stood at 2.8% in March, the lowest level since August 2024, according to Cotality’s latest loan performance report.
That’s flat compared with March 2024.
“Mortgage delinquency rates held steady at a low level in the first quarter of 2025,” says Molly Boesel, senior principal economist at Cotality, in a statement. “Roughly 40 percent of metropolitan areas showed increases in the overall delinquency rate, comparable to the share from the fourth quarter of 2024.”
“Those areas posting the largest increases in delinquency rates in early 2025 also experienced natural disasters in 2024, and delinquency rates typically stay elevated in areas with natural disasters for about nine to 12 months,” Boesel adds. “We can expect mortgage delinquency rates to stay low in 2025 and follow movements in the job market.”
Early-stage delinquencies (30 to 59 days past due) represented 1.4% of all mortgage loans in March, down from 1.5% in March 2024.
Loans 60 to 89 days past due represented 0.4% of all loans, unchanged compared with March 2024.
Serious delinquencies (90 days or more past due, including loans in foreclosure) represented 1% of all loans, an increase from 0.9% compared with March 2024.
The March 2025 serious delinquency rate of 1% continues its downward trend from a high of 4.3% in August 2020.
The District of Columbia and 15 states logged year-over-year increases in their overall delinquency rate in March.
States with the highest increases included District of Columbia (up 0.7 percentage points); Florida (up 0.3 percentage points); and Nebraska (up 0.3 percentage points).
All other states had changes ranging between -0.4 and 0.2 percentage points.
In March, 154 out of 384 U.S. metropolitan areas posted an annual increase in their overall delinquency rate. The top areas included Asheville, N.C. (up 1.0 percentage points); Tampa, Fla. (up 0.9 percentage points); Cape Coral-Fort Myers, Fla. (up 0.8 percentage points); and Lakeland-Winter Haven, Fla. (up 0.8 percentage points).
All other year-over-year changes ranged between -1.2 and 0.7 percentage points.
In March, 224 metropolitan areas posted an annual increase in their serious delinquency rate.
Metros that saw the largest increases included Asheville, N.C.(up 1.0 percentage points); Tampa, Fla. (up 1.0 percentage point); Lakeland-Winter Haven, Fla. (up 1.0 percentage points); and Valdosta, Ga. (up 1.0 percentage points).
All other year-over-year changes ranged between -1.1 and 0.8 percentage points.
Photo: Agê Barros
