ICE First Look: Delinquencies Edge Up in March Year-Over-Year

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Intercontinental Exchange Inc., Atlanta, released its March 2025 First Look, showing the delinquency rate was up slightly year-over-year, to 3.21%.

However, the rate was down from February, following the typical seasonal trends. It also remains below pre-pandemic levels.

Serious delinquencies also improved seasonally, but are up 14% year-over-year. That rise is driven by FHA delinquencies, which are up by 63,000 year-over-year.

There was a modest bump in foreclosure inventory (at 0.39%) and sales (6,100), both up annually for the first time in nearly two years.

Recent natural disasters have led to year-over-year delinquency increases in some states. Florida saw its delinquency rate rise 44 basis points, South Carolina is up 17 basis points, Georgia is up 14 basis points and California is up 10 basis points.

Monthly pre-payment activity increased to 0.59%, up 30.4% from February. That’s also the highest level of prepayment activity since November.

By state, the five highest noncurrent percentages are in Louisiana, at 7.52%, Mississippi, at 7.27%, Alabama, at 5.56%, Indiana, at 5%, and Arkansas at 4.9%.

The five lowest noncurrent percentages are in Washington, at 1.95%, Idaho, at 1.97%, Colorado, at 2.01%, Montana, at 2.12% and Oregon, at 2.21%.