flexiblefullpage - default
Currently Reading

Mortgage Delinquencies Up in September, Foreclosures Dip

billboard - default

Mortgage Delinquencies Up in September, Foreclosures Dip

While reporting shows an increase in early-stage delinquencies and seriously overdue loans, active foreclosures saw a decline

October 24, 2023
Home with foreclosure sign in front because of mortgage delinquency.
Image: William W. Potter / stock.adobe.com

Following a prolonged period of robust mortgage performance, the data indicate an upward trend in mortgage delinquency rates for September 2023, National Mortgage Professional reports.

The national delinquency rate for September reached 3.29%—that's up 12 basis points from August's 3.17% and 13 basis points year over year, but still 71 basis points below pre-pandemic levels of September 2019.

The report found an increase in early-stage delinquencies: Loans 30 days past due rose by approximately 48.8K (+5.1%), marking four consecutive monthly rises. Meanwhile, 60-day delinquencies saw an extension in their streak of increases, with a boost of 8.7K (+3.0%) over six months.

Serious delinquencies, referring to loans 90+ days overdue, climbed by 7K to 455K. Nevertheless, they are still 6.7% below the rates of September 2019.

On a brighter note, the number of loans in active foreclosure plummeted to its lowest since March 2022, reaching 214,000 in September. This number is a significant 25% below the levels seen before the pandemic in 2019.

Read more


leaderboard2 - default

Related Stories

Housing Markets

Metros Where Housing Prices Have Doubled in Less Than 10 Years

Historical data show it's taken less than 10 years for home prices to double in 68 of the country’s 100 largest cities


Housing Policy + Finance

Even With Inflation Running Hot and Elevated Mortgage Rates, Buyer Demand Rises

Mortgage rates will likely stay high for the next few months, but that doesn't seem to be deterring homebuyers


Q1 2024 Foreclosure Activity Rises Slightly

Data show New York, Houston, and Chicago topping the list of major metros with the greatest number of foreclosure starts during Q1 2024

boombox1 -
native1 - default
halfpage2 -

More in Category

Delaware-based Schell Brothers, our 2023 Builder of the Year, brings a refreshing approach to delivering homes and measuring success with an overriding mission of happiness

NAHB Chairman's Message: In a challenging business environment for home builders, and with higher housing costs for families, the National Association of Home Builders is working to help home builders better meet the nation's housing needs

Sure there are challenges, but overall, Pro Builder's annual Housing Forecast Survey finds home builders are optimistic about the coming year

native2 - default
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.

Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.