#mortgage-delinquencies

#mortgage-delinquencies

ICE found that overall mortgage performance was strong in October, with the national delinquency rate falling by 7 basis points (bps) to 3.34%. That's down 11 bps from the same time last year and 53 bps below the October 2019 pre-pandemic benchmark. Andy Walden, ICE's head of mortgage and housing market research, said modest rate relief this fall sparked a jump in mortgage applications and added to the strong performance.

Rising property taxes, insurance, and maintenance costs are outpacing income growth for most Americans, leading to an increase in serious delinquencies in mortgage payments.