The U.S. mortgage delinquency rate increased slightly to 3.22% in April, according to ICE Mortgage Technology’s latest First Look report.
That’s an increase of one basis point compared with March but up 4.1% compared with April 2024.
As of the end of the month, there were about 1.752 million residential properties in some stage of delinquency (30 days more more past due but not in foreclosure) nationwide, an increase of about 8,000 compared with the previous month and an increase of about 94,000 compared with a year earlier.
Despite the recent increase, delinquencies remain below pre-pandemic levels.
There were about 476,000 properties in serious delinquency, a decrease of about 18,000 compared with March but up about 59,000 compared with April 2025.
The foreclosure pre-sale inventory rate stood at 0.38%, as of the end of April, down about 1.71% compared with compared with March but up 3.74% compared with April 2024.
There were about 209,000 properties in the foreclosure pre-sale inventory, down about 3,000 compared with the previous month, but up by 11,000 compared with a year earlier.
There were about 29,000 foreclosure starts in April, a decrease of about 12% compared with March but up about 13% compared with April last year.
There were about 6,500 foreclosure sales – the largest single-month volume in 15 months, with VA sales, which account for the bulk of the recent rise, hitting their highest level since 2019, ICE says.
The monthly prepayment rate was about 0.71%, an increase of nearly 20% compared with the previous month and up nearly 35% compared with a year earlier.
That’s the highest prepayment level since October, ICE says.
Photo: Alexander Grey