According to the latest ICE Mortgage Monitor, mortgage delinquencies held relatively steady in April with the national delinquency (DQ) rate rising by just 1 basis point (bp) to 3.22% in the month. The national DQ rate is up 13 bps (4.1%) YoY and while serious delinquencies (SDQs) ‒ loans 90+ days past due but not in foreclosure ‒ improved seasonally in April, they were up 14% YoY, continuing a six-month streak of 10%+ increases. Foreclosure starts (+13%), sales (+9%), and active inventory (+4%) all rose YoY for the second consecutive month.
However, they do point point out that while mortgage performance still remains historically strong, delinquency and foreclosure metrics are gradually trending higher on a year-over-year basis.
Click here to read the full report at ICE Mortgage Technology (formerly Black Knight).
