As households across the U.S. confront accelerating inflation driven by the Iran war, mortgage performance data suggests that rising costs of living since the start of the conflict on Feb. 28 have not yet trickled through to monthly payment stress.
But the data is also noisy, according to ICE Mortgage Technology, which this week reported a 37-basis-point decline — equivalent to a 10% dip on a percentage basis — in the national mortgage delinquency rate in March to 3.35%. Delinquency rates averaged a 10.3% decline in March, reported the servicing technology and market intelligence firm, which is typically the strongest month for seasonal improvements.
Flush with tax refunds and other “seasonal cash,” borrowers caught up on overdue balances f...