ICE First Look at Mortgage Performance: Delinquencies Hit Highest Level in Nearly Three Years; Prepayments Drop on Higher Rates

Business Wire12-23 22:00

The national delinquency rate jumped 29 basis points (bps) in November to 3.74%, its highest level in almost three years, marking six consecutive months of year-over-year increases While much of ...

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While much of November’s spike was driven by seasonality, post-hurricane distress, and a late-in-the-month Thanksgiving, delinquencies more broadly continue to rise from recent year lows. Early-, mid- and late-stage defaults all rose in November, with seriously delinquent loans – 90 or more days past due but not in active foreclosure – now at the highest level since February 2023. Both foreclosure starts and completions dropped in November and remain well below pre-pandemic levels, leaving 31K fewer loans in active foreclosure than at the same time last year. Data as of Nov. 30, 2024Total U.S. loan delinquency rate : 3.74%Month-over-month change: 8.38%Year-over-year change: 10.46%. Total U.S. foreclosure pre-sale inventory rate: 0.34%Month-over-month change: -2.09%Year-over-year change: -15.96%. Number of proper","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1153585028.USD":"BGF GLOBAL LONG-HORIZON EQUITY  \"A4\" (USD) INC","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU2023250843.SGD":"Allianz Thematica Cl AT Acc H2-SGD","SG9999004303.SGD":"Nikko AM Shenton Global Opportunities SGD","LU0124676726.USD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (USD) ACC","LU2237957902.USD":"NIKKO AM GLOBAL EQUITY \"F\" (USD) ACC","BK4198":"医疗保健用品","BK4588":"碎股","LU0661504455.SGD":"Blackrock Global Equity Income A5 SGD-H","LU2237957811.SGD":"NIKKO AM GLOBAL EQUITY \"F\" (SGD) ACC","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","LU0689626769.HKD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (HKD) ACC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","LU0154245756.USD":"BNP PARIBAS US MID CAP \"C\" (USD) ACC","LU0949170772.SGD":"Blackrock Global Equity Income A6 SGD-H","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","LU0154245673.USD":"BNP PARIBAS US MID CAP \"C\" (USD) INC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","SGXZ23171101.USD":"NIKKO AM SHENTON GLOBAL OPPORTUNITIES (USD) ACC","BK4112":"金融交易所和数据","LU0477156953.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"RE\" (USD) ACC","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","LU0738911758.USD":"Blackrock Global Equity Income A6 USD","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","LU1917777945.USD":"安联专题基金Cl AT Acc","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","ICE":"洲际交易所","BK4585":"ETF&股票定投概念","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0256863902.USD":"ALLIANZ US EQUITY \"AT\" (USD) ACC","GRO":"Brazil Potash Corp.","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","KIDS":"Orthopediatrics Corp","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","LU0390134368.USD":"FRANKLIN GLOBAL GROWTH \"A\" (USD) ACC","LU0130517989.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"R\" INC"},"translate_title":"ICE首先关注抵押贷款表现：拖欠率达到近三年来的最高水平；利率上升导致预付款下降","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GRO":1,"ICE":1,"KIDS":1},"content_text":"The national delinquency rate jumped 29 basis points (bps) in November to 3.74%, its highest level in almost three years, marking six consecutive months of year-over-year increases\nWhile much of November’s spike was driven by seasonality, post-hurricane distress, and a late-in-the-month Thanksgiving, delinquencies more broadly continue to rise from recent year lows\nEarly-, mid- and late-stage defaults all rose in November, with seriously delinquent loans – 90 or more days past due but not in active foreclosure – now at the highest level since February 2023\nBoth foreclosure starts and completions dropped in November and remain well below pre-pandemic levels, leaving 31K fewer loans in active foreclosure than at the same time last year\nPrepayment activity fell -25.0% month over month on October’s higher interest rates, and remains nearly 30% off last year’s levels\n\nATLANTA & NEW YORK, December 23, 2024--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, reports the following \"first look\" at November 2024 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.\nData as of Nov. 30, 2024Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.74%Month-over-month change: 8.38%Year-over-year change: 10.46%\nTotal U.S. foreclosure pre-sale inventory rate: 0.34%Month-over-month change: -2.09%Year-over-year change: -15.96%\nTotal U.S. foreclosure starts: 21,000Month-over-month change -29.15%Year-over-year change: -29.22%\nMonthly prepayment rate (SMM): 0.63%Month-over-month change: -25.02%Year-over-year change: 71.20%\nForeclosure sales: 5,300Month-over-month change: -8.43%Year-over-year change: -17.65%\nNumber of properties that are 30 or more days past due, but not in foreclosure:  2,027,000Month-over-month change: 159,000Year-over-year change: 224,000\nNumber of properties that are 90 or more days past due, but not in foreclosure: 512,000Month-over-month change: 32,000Year-over-year change: 53,000\nNumber of properties in foreclosure pre-sale inventory: 185,000Month-over-month change: -4,000Year-over-year change: -31,000\nNumber of properties that are 30 or more days past due or in foreclosure: 2,213,000Month-over-month change: 155,000Year-over-year change: 192,000\n\n\n\nTop 5 States by Non-Current* Percentage\n\n\nLouisiana:\n8.60\n%\n \n\n\nMississippi:\n8.48\n%\n \n\n\nAlabama:\n6.23\n%\n \n\n\nIndiana:\n5.68\n%\n \n\n\nArkansas:\n5.55\n%\n \n\n\n\n\n \n\n\nBottom 5 States by Non-Current* Percentage\n\n\nWashington:\n2.16\n%\n \n\n\nIdaho:\n2.19\n%\n \n\n\nColorado:\n2.21\n%\n \n\n\nMontana:\n2.25\n%\n \n\n\nCalifornia:\n2.30\n%\n \n\n\n\n\n \n\n\nTop 5 States by 90+ Days Delinquent Percentage\n\n\nMississippi:\n2.30\n%\n \n\n\nLouisiana:\n2.26\n%\n \n\n\nAlabama:\n1.63\n%\n \n\n\nArkansas:\n1.42\n%\n \n\n\nGeorgia:\n1.35\n%\n \n\n\n\n \n\n\nTop 5 States by 12-Month Change in Non-Current* Percentage\n\n\nHawaii:\n-9.59\n%\n \n\n\nNew York:\n-5.86\n%\n \n\n\nMassachusetts:\n-2.24\n%\n \n\n\nRhode Island:\n-0.80\n%\n \n\n\nPennsylvania:\n0.05\n%\n \n\n\n\n\n \n\n\nBottom 5 States by 12-Month Change in Non-Current* Percentage\n\n\nFlorida\n28.13\n%\n \n\n\nNorth Carolina:\n20.39\n%\n \n\n\nSouth Carolina:\n17.59\n%\n \n\n\nArizona:\n15.65\n%\n \n\n\nGeorgia:\n12.76\n%\n \n\n\n\n\n\n\n*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.\n\n\nNotes:\n\n\n\n1)\nTotals are extrapolated based on ICE’s loan-level mortgage and property records databases.\n\n\n\n2)\nAll whole numbers are rounded to the nearest thousand, except foreclosure starts and sales, which are rounded to the nearest hundred.\n\n\n\nNOTE: Due to the holidays ICE Mortgage Monitor will not publish a report in January. Reports for previous months are available online at mortgagetech.ice.com/resources/data-reports. The next ICE Mortgage Monitor will publish February 3, 2025.\nFor more information about gaining access to ICE’s loan-level database, please send an email to Mortgage.Monitor@bkfs.com.\nAbout Intercontinental Exchange\nIntercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines and automates industries to connect our customers to opportunity.\nTrademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading \"Key Information Documents (KIDS).\"\nSafe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE's business that are not historical facts are \"forward-looking statements\" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 8, 2024.\nCategory: Mortgage Technology\nICE-CORP\nSource: Intercontinental Exchange\nView source version on businesswire.com: https://www.businesswire.com/news/home/20241223460117/en/\nContacts\nICE Media Contact Mitch Cohenmitch.cohen@ice.com +1 704-890-8158ICE Investor Contact: Katia Gonzalezkatia.gonzalez@ice.com +1 (678) 981-3882","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2493763373"}