The national mortgage delinquency rate stood at 3.72% in December, a decrease of 0.60% compared with November but up 4.02% compared with December 2023, according to ICE Mortgage Technology’s latest First Look report.
As of the end of the month, there were about 2.016 million mortgages 30 days or more past due but not in foreclosure, a decrease of about 11,000 compared with the previous month but up 108,000 compared with a year ago.
Early-stage delinquencies were down about 3.6% in December compared with November, while serious delinquencies continued their slow climb – up 5.7% compared to the previous month.
There were about 541,000 loans in serious delinquency, according to the report, an increase of about 29,000 compared with November and an increase of about 66,000 compared with December 2023.
There were about 31,000 foreclosure starts in December, a jump of 50% compared with November and and up nearly 30% from a year ago.
The foreclosure pre-sale inventory rate was 0.35%, an increase of 3.72% compared with the month prior and down nearly 11% compared with a year ago.
As of the end of the month, there were about 192,000 properties in the foreclosure pipeline, an increase of about 7,000 compared with the previous month and down about 20,000 compared with a year earlier.
The monthly pre-payment rate was about 0.63%, down 8.43% – on rising rates – compared with November but up about 71% compared with December 2023.
Photo: Matthieu Joannon
