ICE First Look at Mortgage Performance: Mortgage delinquencies remain low despite modest year-over-year rise
ICE reports the following first look at August 2024 month-end mortgage performance statistics:
The national delinquency rate fell 3 basis points to 3.34% in August, down 0.9% for the month but up 5.1% from last year. Serious delinquencies rose 14K (+3.3%) to a six-month high, but remain historically low. Foreclosure starts fell by 9% from the month prior and remain 32% below 2019 levels. The share of mortgages in foreclosure hit the second-lowest level on record outside of the COVID-19 moratorium.
Prepayment activity rose to 0.62% – a level not seen in two years – on easing rates, rising by 4.7% from July and 18.0% from last year. The top 5 states by non-current percentage are Mississippi (7.93%), Louisiana (7.87%), Alabama (5.61%), Indiana (5.30%), and West Virginia (5.14%).
ICE riporta il seguente primo sguardo sulle statistiche di performance dei mutui a fine agosto 2024:
Il tasso nazionale di morosità è sceso di 3 punti base al 3,34% in agosto, registrando una diminuzione dello 0,9% rispetto al mese precedente, ma un aumento del 5,1% rispetto all'anno scorso. Le morosità gravi sono aumentate di 14K (+3,3%) raggiungendo un massimo di sei mesi, ma rimangono storicamente basse. Gli avvii di pignoramenti sono diminuiti del 9% rispetto al mese precedente e rimangono inferiori del 32% rispetto ai livelli del 2019. La quota di mutui in pignoramento ha raggiunto il secondo livello più basso di sempre, escludendo il periodo di moratoria COVID-19.
L'attività di prepagamento è aumentata allo 0,62% – un livello non visto da due anni – a causa della diminuzione dei tassi, con un incremento del 4,7% rispetto a luglio e del 18,0% rispetto all'anno scorso. I primi 5 stati per percentuale di non-attuali sono Mississippi (7,93%), Louisiana (7,87%), Alabama (5,61%), Indiana (5,30%) e Virginia Occidentale (5,14%).
ICE informa lo siguiente primer vistazo a las estadísticas de desempeño hipotecario a fin de mes de agosto de 2024:
La tasa nacional de morosidad cayó 3 puntos básicos al 3.34% en agosto, disminuyendo un 0.9% en el mes, pero aumentando un 5.1% respecto al año anterior. Las morosidades graves aumentaron en 14K (+3.3%) alcanzando un máximo de seis meses, pero siguen siendo históricamente bajas. Los inicios de ejecuciones hipotecarias cayeron un 9% respecto al mes anterior y siguen siendo un 32% inferiores a los niveles de 2019. La proporción de hipotecas en ejecución alcanzó el segundo nivel más bajo registrado fuera de la moratoria por COVID-19.
La actividad de prepago aumentó al 0.62% – un nivel no visto en dos años – debido a la disminución de las tasas, subiendo un 4.7% respecto a julio y un 18.0% respecto al año pasado. Los 5 estados con mayor porcentaje de no actuales son Mississippi (7.93%), Louisiana (7.87%), Alabama (5.61%), Indiana (5.30%) y Virginia Occidental (5.14%).
ICE는 다음과 같은 2024년 8월 월말 주택 담보 대출 성과 통계에 대한 첫 번째 전망을 발표했습니다:
전국 연체율은 3.34%로 3bp 하락했으며, 월간 기준으로는 0.9% 감소했고, 지난해 대비 5.1% 증가했습니다. 심각한 연체는 14K (+3.3%) 증가하여 6개월 내 최고치를 기록했지만 역사적으로 낮습니다. 압류 시작은 이전 달 대비 9% 감소하였고 2019년 대비 32% 낮습니다. COVID-19 모라토리엄을 제외하면 압류 중인 주택 담보 대출 비율은 기록상 두 번째로 낮은 수준입니다.
사전 상환 활동은 금리 완화로 인해 두 년 만에 보지 못한 수준인 0.62%로 증가했으며, 7월 대비 4.7%, 지난해 대비 18.0% 상승했습니다. 현재 비정상 상태의 비율이 가장 높은 5개 주는 미시시피 (7.93%), 루이지애나 (7.87%), 앨라배마 (5.61%), 인디애나 (5.30%), 웨스트 버지니아 (5.14%)입니다.
ICE rapporte le premier aperçu des statistiques de performance des hypothèques à la fin du mois d'août 2024 :
Le taux national de délinquance a chuté de 3 points de base à 3,34 % en août, en baisse de 0,9 % par rapport au mois précédent mais en hausse de 5,1 % par rapport à l'année dernière. Les délinquances graves ont augmenté de 14K (+3,3 %) atteignant un maximum de six mois, mais restent historiquement basses. Les démarrages de saisies ont diminué de 9 % par rapport au mois précédent et sont toujours inférieurs de 32 % aux niveaux de 2019. La part des prêts hypothécaires en saisie a atteint le deuxième niveau le plus bas enregistré en dehors du moratoire COVID-19.
L'activité de remboursement anticipé a augmenté à 0,62 % – un niveau non atteint depuis deux ans – en raison de la baisse des taux, avec une hausse de 4,7 % par rapport à juillet et de 18,0 % par rapport à l'année dernière. Les 5 États avec le pourcentage le plus élevé de non-actuels sont le Mississippi (7,93 %), la Louisiane (7,87 %), l'Alabama (5,61 %), l'Indiana (5,30 %) et la Virginie-Occidentale (5,14 %).
ICE berichtet über den ersten Überblick über die Hypothekenleistungsstatistiken zum Monatsende August 2024:
Die nationale Delinquenzrate fiel im August um 3 Basispunkte auf 3,34%, was einen Rückgang von 0,9% im Vergleich zum Vormonat und einen Anstieg von 5,1% im Vergleich zum Vorjahr bedeutet. Schwere Delinquenzen stiegen um 14K (+3,3%) auf den höchsten Stand seit sechs Monaten, bleiben jedoch historisch niedrig. Die Beginn von Zwangsvollstreckungen fielen im Vergleich zum Vormonat um 9% und liegen 32% unter dem Niveau von 2019. Der Anteil der Hypotheken in Zwangsvollstreckung erreichte den zweitniedrigsten Wert in der Geschichte außerhalb des COVID-19-Moratoriums.
Die Vorabzahlungsaktivitäten stiegen auf 0,62% - ein Niveau, das seit zwei Jahren nicht mehr erreicht wurde - aufgrund sinkender Zinsen, was einem Anstieg von 4,7% im Vergleich zum Juli und 18,0% im Vergleich zum Vorjahr entspricht. Die Top 5 Bundesstaaten nach dem Anteil der nicht aktuellen Hypotheken sind Mississippi (7,93%), Louisiana (7,87%), Alabama (5,61%), Indiana (5,30%) und West Virginia (5,14%).
- National delinquency rate fell 3 basis points to 3.34% in August
- Foreclosure starts fell by 9% from the previous month and remain 32% below 2019 levels
- Share of mortgages in foreclosure hit the second-lowest level on record outside of the COVID-19 moratorium
- Prepayment activity rose to 0.62%, a level not seen in two years, up 18.0% from last year
- National delinquency rate is up 5.1% from last year
- Serious delinquencies rose 14K (+3.3%) to a six-month high
- 5.6K foreclosure sales were completed nationally in August, a 2.6% month-over-month increase
Insights
The August 2024 mortgage performance data from ICE reveals a nuanced picture of the U.S. housing market. The total delinquency rate of
Key points to consider:
- Serious delinquencies (90+ days past due) increased by 14,000, reaching a six-month high. This warrants attention as it could be an early indicator of financial stress among homeowners.
- Foreclosure activity remains subdued, with starts
32% below 2019 levels and the foreclosure inventory at near-record lows. This indicates that lenders are still cautious about initiating foreclosure proceedings. - The prepayment rate increased to
0.62% , the highest in two years, likely due to easing interest rates. This could signal increased refinancing activity or home sales.
While the overall picture remains stable, the year-over-year increases in delinquencies and the rise in serious delinquencies merit close monitoring. Investors should watch for trends in states with high non-current percentages, such as Mississippi and Louisiana, as potential leading indicators of broader market shifts.
The ICE mortgage performance data for August 2024 provides important insights into regional disparities and emerging trends in the U.S. housing market:
- Significant state-level variations exist, with Mississippi leading in non-current loans at
7.93% , while Colorado has the lowest rate at1.94% . This highlights the importance of geographic diversification for mortgage-backed securities investors. - The
12.75% 12-month increase in non-current loans in Arizona is noteworthy, potentially indicating localized economic challenges. - Conversely, New York showed the most improvement with a
6.92% decrease in non-current loans over the past year, suggesting regional economic resilience.
The
While overall delinquency rates remain low by historical standards, the modest year-over-year increase and the rise in serious delinquencies warrant attention. These could be early signs of potential stress in the housing market, especially if economic conditions deteriorate.
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The national delinquency rate fell 3 basis points (bps) to
3.34% in August, dropping0.9% for the month but up5.1% from last year - The number of borrowers a single payment past due dropped by -26K, while 60-day delinquencies rose marginally by 1K
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Serious delinquencies (loans 90+ days past due but not in active foreclosure) rose 14K (+
3.3% ) to a six-month high, but remain historically low -
Foreclosure starts fell by
9% from the month prior and remain32% below their 2019 levels - Active foreclosure inventory also improved in the month, with the share of mortgages in foreclosure hitting the second-lowest level on record outside of the COVID-19 moratorium
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5.6K foreclosure sales were completed nationally in August – a +
2.6% month-over-month increase, yet down -18.1% from last year and58% below 2019 levels -
Prepayment activity (SMM) rose to
0.62% – a level not seen in two years (August 2022) – on easing rates, rising by4.7% from July and18.0% from last year
Data as of Aug. 31, 2024 |
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Year-over-year change: - |
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Monthly prepayment rate (SMM): |
Month-over-month change: 4, |
Year-over-year change: |
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Foreclosure sales: 5,700 |
Month-over-month change: |
Year-over-year change: - |
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Number of properties that are 30 or more days past due, but not in foreclosure: 1,801,000 |
Month-over-month change: -11,000 |
Year-over-year change: 117,000 |
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Number of properties that are 90 or more days past due, but not in foreclosure: 450,000 |
Month-over-month change: 14,000 |
Year-over-year change: 2,000 |
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Number of properties in foreclosure pre-sale inventory: 187,000 |
Month-over-month change: -1,000 |
Year-over-year change: -28,000 |
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Number of properties that are 30 or more days past due or in foreclosure: 1,988,000 |
Month-over-month change: -12,000 |
Year-over-year change: 89,000 |
Top 5 States by Non-Current* Percentage |
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Bottom 5 States by Non-Current* Percentage |
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Top 5 States by 90+ Days Delinquent Percentage |
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Top 5 States by 12-Month Change in Non-Current* Percentage |
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Bottom 5 States by 12-Month Change in Non-Current* Percentage |
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*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state. |
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Notes: |
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1) |
Totals are extrapolated based on ICE’s McDash loan-level database of mortgage assets. |
2) |
All whole numbers are rounded to the nearest thousand, except foreclosure starts and sales, which are rounded to the nearest hundred. |
The company will provide a more in-depth review of this data in its monthly Mortgage Monitor report, which includes an analysis of data supplemented by detailed charts and graphs that reflect trend and point-in-time observations. The Mortgage Monitor report will be available online at https://www.icemortgagetechnology.com/resources/data-reports by Oct. 7, 2024.
For more information about gaining access to ICE’s loan-level database, please send an email to Mortgage.Monitor@bkfs.com.
About Intercontinental Exchange
Intercontinental 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
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Safe 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.
Category: Mortgage Technology
ICE-CORP
Source: Intercontinental Exchange
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ICE Media Contact
Mitch Cohen
mitch.cohen@ice.com
+1 704-890-8158
ICE Investor Contact:
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+1 678-981-3882
Source: Intercontinental Exchange
FAQ
What was the total U.S. loan delinquency rate in August 2024 according to ICE?
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