ICE First Look for November: Delinquencies Up, but Still Historically Low

(Image courtesy of ICE)

Intercontinental Exchange Inc., Atlanta, released its “first look” at November mortgage performance, finding the national delinquency rate crept up to 3.39%.

However, despite a slight month-to-month rise, that’s still down 10 basis points year-over-year and 64 basis points below same-time pre-pandemic levels.

Serious delinquencies, which ICE defined as 90+ days past due, rose to 459,000, but remain 21% below this time last year.

Foreclosure starts were down 12.2% in November, and active foreclosure activity fell to 216,000. Those numbers are also well below pre-pandemic numbers.

Prepayment activity fell again, by 14.13% to 0.37%.

The top five states by non-current percentage were Mississippi (8.11%), Louisiana (7.75%), Alabama (5.78%), Indiana (5.24%) and Arkansas (5.18%).

The top 5 states by percentage of 90+ days delinquent were Mississippi (2.12%), Louisiana (1.87%), Alabama (1.46%), Arkansas (1.3%) and Georgia (1.21%).

The bottom five states by non-current percentage were Colorado (1.99%), Montana (2.06%), Washington (2.07%), Idaho (2.16%) and California (2.24%).