The national mortgage delinquency rate in December was near a three-year high, but foreclosure starts and sales declined, according to the Intercontinental Exchange (ICE).
The national delinquency rate was at 3.72% in December, up 15 basis points compared to December 2023, ICE reported. The delinquency rate declined 2 basis points from November, however.
Foreclosure starts averaged 26,800 per month through 2024, down nearly 6% compared to a year earlier, ICE reported. Foreclosure sales declined 5.6% year over year in December, but serious delinquencies of 90 days or more past due have been inching up.
Mortgage distress levels varied widely by location, according to ICE. Louisiana had the highest percentage of non-current mortgages at 8.6%, followed by Mississippi (8.3%), Alabama (6.1%), Indiana (5.7%) and Arkansas (5.6%). States with the lowest level of non-current mortgages by percentage were Oregon (2.3%), Colorado (2.2%), Idaho (2.1%), Washington (2.1%) and Montana (2.1%).
