by Calculated Threat on 10/24/2024 02:33:00 PM
• The nationwide delinquency fee rose 14 foundation factors to three.48% in September, up 4.3% from August and 5.7% 12 months over 12 months
• September marked the fourth consecutive year-over-year rise in mortgage delinquencies, the longest such stretch since early 2018 exterior of the preliminary impression of the COVID pandemic
• A 5.9% bump introduced severe delinquencies (90+ days overdue however not but in lively foreclosures) to a 16-month excessive and delivered a second consecutive month of year-over-year will increase
• 30-day delinquencies hit a three-month excessive and 60-days had been on the highest since January 2021; foreclosures exercise remained muted, with each begins and gross sales/completions down in September
• The variety of loans in lively foreclosures was up marginally (+0.4%) month over month however down 12.5% from this time final 12 months and nonetheless 34% beneath pre-pandemic ranges
• Prepayment exercise rose to a stage not seen since August 2022; a +2.5% enhance from the month prior and up +43.2% from final September
emphasis added
Click on on graph for bigger picture.
Here’s a desk from ICE.
