ICE First Look at Mortgage Performance: Serious delinquencies hit 17-month high while foreclosure activity remains historically muted
ICE's October 2024 mortgage performance data shows the national delinquency rate at 3.45%, up 6% year-over-year, marking five consecutive months of increases. Serious delinquencies (90+ days) rose 7.3% from last year, reaching a 17-month high. While foreclosure starts (+12.2%) and completions (+10.1%) increased monthly, they remain below pre-pandemic levels. The total number of properties 30+ days past due or in foreclosure reached 2,058,000. Prepayment activity surged to levels not seen since May 2022, nearly doubling year-over-year. Louisiana leads states with the highest non-current percentage at 8.15%, while Washington has the lowest at 2.03%.
I dati sulle performance dei mutui di ICE di ottobre 2024 mostrano un tasso di morosità nazionale del 3,45%, in aumento del 6% rispetto all'anno precedente, segnando cinque mesi consecutivi di crescita. Le morosità gravi (90+ giorni) sono aumentate del 7,3% rispetto all'anno scorso, raggiungendo un massimo di 17 mesi. Sebbene gli avvii (+12,2%) e le conclusioni delle esecuzioni immobiliari (+10,1%) siano aumentati mensilmente, rimangono inferiori ai livelli pre-pandemia. Il numero totale di proprietà oltre 30 giorni in ritardo o in esecuzione immobiliare ha raggiunto 2.058.000. L'attività di rimborso anticipato è aumentata a livelli non visti da maggio 2022, quasi raddoppiando rispetto all'anno precedente. La Louisiana guida gli stati con la percentuale più alta di morosità al 8,15%, mentre Washington ha la più bassa al 2,03%.
Los dati di rendimiento hipotecario de ICE de octubre de 2024 muestran la tasa de morosidad nacional en 3.45%, un aumento del 6% en comparación con el año anterior, marcando cinco meses consecutivos de aumentos. Las morosidades graves (90+ días) aumentaron un 7.3% desde el año pasado, alcanzando un máximo de 17 meses. Aunque los inicios de ejecuciones hipotecarias (+12.2%) y las finalizaciones (+10.1%) aumentaron mensualmente, siguen estando por debajo de los niveles anteriores a la pandemia. El número total de propiedades con más de 30 días de mora o en ejecución hipotecaria alcanzó 2,058,000. La actividad de prepago se disparó a niveles no vistos desde mayo de 2022, casi duplicándose en comparación con el año anterior. Luisiana lidera los estados con el porcentaje más alto de morosidad al 8.15%, mientras que Washington tiene el más bajo con 2.03%.
ICE의 2024년 10월 주택 담보대출 실적 데이터에 따르면, 국가의 연체율은 3.45%로, 작년 대비 6% 상승하였으며, 5개월 연속 증가세를 보이고 있습니다. 심각한 연체(90일 이상)는 작년 대비 7.3% 증가하여 17개월 최고치를 기록했습니다. 주택 압류 시작(+12.2%)과 완료(+10.1%)는 월별로 증가했지만, 팬데믹 이전 수준에는 미치지 못합니다. 30일 이상 연체되거나 압류 절차에 있는 자산의 총 수는 2,058,000에 이릅니다. 선지급 활동은 2022년 5월 이후 가장 높은 수준으로 급증하며, 작년 대비 거의 두 배로 증가했습니다. 루이지애나주는 8.15%로 가장 높은 비율의 미상환 비율을 보이고 있으며, 워싱턴주는 2.03%로 가장 낮은 비율을 보입니다.
Les données de performance hypothécaire d'ICE pour octobre 2024 montrent un taux de défaut national de 3,45%, en hausse de 6% par rapport à l'année précédente, marquant cinq mois consécutifs d'augmentation. Les défauts graves (90 jours ou plus) ont augmenté de 7,3% par rapport à l'année dernière, atteignant un sommet de 17 mois. Bien que les nouvelles saisies (+12,2%) et les réalisations (+10,1%) aient augmenté mensuellement, elles restent en dessous des niveaux d'avant la pandémie. Le nombre total de propriétés en retard de paiement de plus de 30 jours ou en saisie a atteint 2 058 000. L'activité de remboursement anticipé a bondi à des niveaux jamais vus depuis mai 2022, presque en doublant par rapport à l'année précédente. La Louisiane est l'état avec le pourcentage le plus élevé de non-conformité à 8,15%, tandis que Washington a le taux le plus bas à 2,03%.
Die Hypothekenleistungsdaten von ICE für Oktober 2024 zeigen die nationale Moratorienquote von 3,45%, was einem Anstieg um 6% im Jahresvergleich entspricht und damit den fünften Monat in Folge markiert, in dem die Rate steigt. Die ernsthafte Morosität (über 90 Tage) stieg um 7,3% im Vergleich zum Vorjahr und erreichte ein 17-Monats-Hoch. Obwohl die Neubauten (+12,2%) und die Abschlüsse (+10,1%) monatlich zugenommen haben, bleiben sie unter den Niveaus vor der Pandemie. Die Gesamtzahl der Immobilien, die 30 Tage überfällig sind oder sich in der Zwangsvollstreckung befinden, erreichte 2.058.000. Die Vorabzahlungsaktivitäten schnellten auf ein Niveau, das seit Mai 2022 nicht mehr gesehen wurde, und verdoppeln sich fast im Jahresvergleich. Louisiana führt die Staaten mit dem höchsten Anteil an zahlungsunfähigen Krediten mit 8,15% an, während Washington mit 2,03% die niedrigste Zahl aufweist.
- Prepayment activity nearly doubled year-over-year (+96.07%)
- Foreclosure inventory decreased by 28,000 properties year-over-year
- 30 & 60-day delinquencies decreased from September
- National delinquency rate increased 5.95% year-over-year
- Serious delinquencies (90+ days) up 7.3% from last year, reaching 17-month high
- Total properties 30+ days past due or in foreclosure reached 2,058,000
- Florida showed 20.97% increase in non-current loans over 12 months
Insights
The mortgage market shows concerning trends with serious delinquencies (90+ days) reaching a 17-month high, up
A notable bright spot is the
Regional disparities are significant, with Louisiana and Mississippi showing concerning non-current rates above
-
At
3.45% in October, the national delinquency rate was up6% from the same time last year, marking five consecutive months of year-over-year increases -
While 30- & 60-day delinquencies decreased from September, seriously past due loans (90+ days) continued their slow rise, now up
7.3% from last year and at the highest level since May 2023 -
Though both foreclosure starts (+
12.2% ) and completions (+10.1% ) were up in October, both remain down from last year (-12.3% and -9.5% , respectively) and well below pre-pandemic levels - Likewise, foreclosure inventory was up a modest +1K in the month, but there are 28K fewer loans in active foreclosure than there were at this same time last year
- Prepayment activity rose on easing interest rates to a level not seen in over two years (May 2022) and nearly double where it was last October
Data as of Oct. 31, 2024 |
|
Total |
|
Month-over-month change: - |
|
Year-over-year change: |
|
|
|
Total |
|
Month-over-month change: |
|
Year-over-year change: - |
|
|
|
Total |
|
Month-over-month change |
|
Year-over-year change: - |
|
|
|
Monthly prepayment rate (SMM): |
|
Month-over-month change: |
|
Year-over-year change: |
|
|
|
Foreclosure sales: 5,800 |
|
Month-over-month change: |
|
Year-over-year change: - |
|
|
|
Number of properties that are 30 or more days past due, but not in foreclosure: 1,869,000 |
|
Month-over-month change: -11,000 |
|
Year-over-year change: 135,000 |
|
|
|
Number of properties that are 90 or more days past due, but not in foreclosure: 479,000 |
|
Month-over-month change: 4,000 |
|
Year-over-year change: 33,000 |
|
|
|
Number of properties in foreclosure pre-sale inventory: 189,000 |
|
Month-over-month change: 1,000 |
|
Year-over-year change: -28,000 |
|
|
|
Number of properties that are 30 or more days past due or in foreclosure: 2,058,000 |
|
Month-over-month change: -10,000 |
|
Year-over-year change: 107,000 |
|
|
|
Top 5 States by Non-Current* Percentage |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bottom 5 States by Non-Current* Percentage |
|
|
|
|
|
|
|
|
|
|
|
|
|
Top 5 States by 90+ Days Delinquent Percentage |
|
|
|
|
|
|
|
|
|
|
|
|
|
Top 5 States by 12-Month Change in Non-Current* Percentage |
|
|
- |
|
- |
|
- |
|
- |
|
- |
|
|
Bottom 5 States by 12-Month Change in Non-Current* Percentage |
|
|
|
|
|
|
|
|
|
|
|
*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state. Notes: 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 Dec. 9, 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
Trademarks 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).”
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/20241121030243/en/
ICE Media Contact
Mitch Cohen
mitch.cohen@ice.com
+1 704-890-8158
ICE Investor Contact:
Katia Gonzalez
katia.gonzalez@ice.com
+1 (678) 981-3882
Source: Intercontinental Exchange
FAQ
What was ICE's reported national mortgage delinquency rate in October 2024?
How many properties were reported as seriously delinquent (90+ days) by ICE in October 2024?
Which state had the highest non-current mortgage percentage according to ICE's October 2024 report?
How did ICE's reported mortgage prepayment activity change year-over-year in October 2024?
