The U.S. mortgage delinquency rate increased to 3.48% in September, up from 3.34% in August, according to ICE Mortgage Technology’s latest First Look report.
About 1.88 million homes were in some stage of delinquency (30 days more or more past due but not in foreclosure), an increase of about 79,000, or 4.3%, compared with August and up about 132,000, or 5.74%, compared with September 2023.
About 476,000 properties were in late stage delinquency (90 days or more past due but not in foreclosure), an increase of about 26,000 compared with the previous month and up about 21,000 from a year ago.
As of the end of the month, there were about 188,000 properties in the foreclosure pre-sale inventory, up about 1,000, or 0.33%, compared with August but down about 27,000, or -13.94%, compared with September 2023 – resulting in a foreclosure pre-sale inventory rate of 0.35%.
There were about 26,000 foreclosure starts in September, down about 5.4% compared with the previous month but up about 2% compared with a year earlier.
The monthly pre-payment rate increased to 6.4%, up 2.54% month-over-month and up 43% year-over-year.
Photo: Alexander Grey
