ICE First Look at Mortgage Performance: September Sees Prepayments at Two-Year High, Slowly Rising Mortgage Delinquencies
ICE's September 2024 mortgage performance data shows significant trends in the U.S. housing market. The national delinquency rate increased to 3.48%, marking the fourth consecutive year-over-year rise. Serious delinquencies reached a 16-month high, while prepayment activity hit its highest level since August 2022. The total number of properties 30+ days past due or in foreclosure reached 2,068,000, an increase of 80,000 month-over-month. Despite rising delinquencies, foreclosure activity remained subdued, with both starts and completions declining. Louisiana and Mississippi led states with the highest non-current loan percentages at 8.31% and 8.20% respectively.
I dati sulle performance dei mutui di settembre 2024 di ICE mostrano tendenze significative nel mercato immobiliare statunitense. Il tasso nazionale di morosità è aumentato fino al 3,48%, segnando il quarto aumento consecutivo su base annua. Le morosità gravi hanno raggiunto il massimo da 16 mesi, mentre l'attività di prepagamento ha toccato il suo livello più alto da agosto 2022. Il numero totale di proprietà con oltre 30 giorni di ritardo o in esecuzione immobiliare ha raggiunto 2.068.000, un incremento di 80.000 rispetto al mese precedente. Nonostante l'aumento delle morosità, l'attività di esecuzione è rimasta contenuta, con un calo sia nell'avvio che nel completamento. Louisiana e Mississippi sono stati gli stati con le percentuali più elevate di prestiti non in regola, rispettivamente al 8,31% e 8,20%.
Los datos de rendimiento hipotecario de septiembre de 2024 de ICE muestran tendencias significativas en el mercado de vivienda de EE. UU. La tasa nacional de morosidad aumentó al 3,48%, marcando el cuarto aumento consecutivo en comparación interanual. Las morosidades serias alcanzaron un máximo de 16 meses, mientras que la actividad de prepago alcanzó su nivel más alto desde agosto de 2022. El número total de propiedades con más de 30 días de retraso o en ejecución hipotecaria llegó a 2.068.000, un aumento de 80.000 respecto al mes anterior. A pesar del aumento de las morosidades, la actividad de ejecución permaneció contenida, con caídas tanto en los inicios como en las finalizaciones. Louisiana y Mississippi fueron los estados con los porcentajes más altos de préstamos no actuales, con un 8,31% y un 8,20% respectivamente.
ICE의 2024년 9월 모기지 성과 데이터는 미국 주택 시장의 중요한 추세를 보여줍니다. 전국 연체율이 3.48%로 증가하며 4년 연속으로 전년 대비 증가했습니다. 심각한 연체는 16개월 만에 최고치를 기록했으며, 선지급 활동은 2022년 8월 이후 가장 높은 수준에 도달했습니다. 30일 이상 연체되거나 압류 중인 자산의 총 수는 2,068,000에 이르며, 전월 대비 80,000 증가했습니다. 연체율이 상승했음에도 불구하고 압류 활동은 여전히 억제된 상태로 시작과 완료 모두 감소했습니다. 루이지애나와 미시시피는 각각 8.31%와 8.20%로 가장 높은 비정상 대출 비율을 기록한 주입니다.
Les données de performance des hypothèques d'ICE pour septembre 2024 montrent des tendances significatives sur le marché du logement américain. Le taux national de délinquance a augmenté à 3,48%, marquant la quatrième augmentation consécutive d'année en année. Les délinquances graves ont atteint un maximum de 16 mois, tandis que l'activité de remboursement anticipé a atteint son plus haut niveau depuis août 2022. Le nombre total de propriétés ayant plus de 30 jours de retard ou en saisie a atteint 2.068.000, soit une augmentation de 80.000 par rapport au mois précédent. Malgré l'augmentation des délinquances, l'activité de saisie est restée modérée, avec des baisses tant dans les débuts que dans les complétions. La Louisiane et le Mississippi ont été les États avec les pourcentages les plus élevés de prêts non conformes, à 8,31 % et 8,20 % respectivement.
Die Hypothekenleistungsdaten von ICE für September 2024 zeigen bedeutende Trends auf dem US-Immobilienmarkt. Die nationale Moratorienquote erhöhte sich auf 3,48%, was den vierten aufeinanderfolgenden Anstieg im Jahresvergleich markiert. Schwere Moratoren erreichten den höchsten Stand seit 16 Monaten, während die Vorabzahlungsaktivität ihr höchstes Niveau seit August 2022 erreichte. Die Gesamtzahl der Immobilien, die 30 Tage oder mehr im Rückstand sind oder sich in der Zwangsvollstreckung befinden, erreichte 2.068.000, ein Anstieg von 80.000 im Vergleich zum Vormonat. Trotz steigender Moratorien blieb die Zwangsvollstreckungsaktivität gedämpft, sowohl bei den Neubeginnen als auch bei den Abschlüssen gab es Rückgänge. Louisiana und Mississippi führten die Bundesstaaten mit den höchsten Prozentzahlen an nicht aktuellen Darlehen an, die bei 8,31 % und 8,20 % lagen.
- Prepayment activity increased 43.2% year-over-year
- Foreclosure inventory remains 34% below pre-pandemic levels
- Foreclosure starts decreased 5.40% month-over-month
- National delinquency rate increased 4.3% to 3.48%
- Fourth consecutive year-over-year rise in mortgage delinquencies
- Serious delinquencies (90+ days) reached 16-month high
- Properties 30+ days past due increased by 79,000 to 1,880,000
- Five states showing significant deterioration with 8.41-14.85% increase in non-current loans
Insights
The mortgage market is showing concerning trends with delinquency rates rising for the fourth consecutive quarter, reaching
The geographic disparity is notable, with Southern states showing significantly higher delinquency rates - Louisiana leading at
This data reveals broader economic stress patterns, particularly in regions with historically lower income levels. The rising delinquency rates, coupled with increased prepayment activity, suggest a complex economic environment where some homeowners are struggling while others are actively managing their mortgage positions. The geographic concentration of delinquencies in Southern states, contrasted with stronger performance in Western states, reflects regional economic disparities.
The relatively contained foreclosure rates despite rising delinquencies indicate that post-2008 regulatory frameworks and lender policies are functioning as intended, preventing immediate foreclosure cascades. However, the trend of increasing serious delinquencies warrants close monitoring as a potential leading indicator of housing market stress.
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The national delinquency rate rose 14 basis points to
3.48% in September, up4.3% from August and5.7% year over year - September marked the fourth consecutive year-over-year rise in mortgage delinquencies, the longest such stretch since early 2018 outside of the initial impact of the COVID pandemic
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5.9% bump brought serious delinquencies (90+ days past due but not yet in active foreclosure) to a 16-month high and delivered a second consecutive month of year-over-year increases - 30-day delinquencies hit a three-month high and 60-days were at the highest since January 2021; foreclosure activity remained muted, with both starts and sales/completions down in September
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The number of loans in active foreclosure was up marginally (+
0.4% ) month over month but down12.5% from this time last year and still34% below pre-pandemic levels -
Prepayment activity rose to a level not seen since August 2022; a +
2.5% increase from the month prior and up +43.2% from last September
Data as of Sept. 30, 2024 |
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Monthly prepayment rate (SMM): |
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Foreclosure sales: 5,300 |
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: 1,880,000 |
Month-over-month change: 79,000 |
Year-over-year change: 132,000 |
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Number of properties that are 90 or more days past due, but not in foreclosure: 476,000 |
Month-over-month change: 26,000 |
Year-over-year change: 21,000 |
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Number of properties in foreclosure pre-sale inventory: 188,000 |
Month-over-month change: 1,000 |
Year-over-year change: -27,000 |
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Number of properties that are 30 or more days past due or in foreclosure: 2,068,000 |
Month-over-month change: 80,000 |
Year-over-year change: 105,000 |
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. Notes: |
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Totals are extrapolated based on ICE’s McDash loan-level database of mortgage assets. |
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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 Nov. 4, 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
View source version on businesswire.com: https://www.businesswire.com/news/home/20241023158235/en/
ICE Media Contact
Mitch Cohen
mitch.cohen@ice.com
+1 704-890-8158
ICE Investor Contact:
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katia.gonzalez@ice.com
+1 (678) 981-3882
Source: Intercontinental Exchange
FAQ
What was ICE's reported national mortgage delinquency rate for September 2024?
How many properties were reported as delinquent or in foreclosure by ICE in September 2024?
Which states had the highest non-current mortgage rates according to ICE's September 2024 report?
How did ICE's reported mortgage prepayment rates change in September 2024?
