ATLANTA– Mortgage delinquencies and foreclosure activity during May continued trend slightly higher on an annual basis despite some seasonal and disaster recovery-related improvement, according to new data from ICE Mortgage.
The company said its May 2025 ICE First Look data offer a number of key takeaways, including:
- The national delinquency rate ticked down two basis points (bps) to 3.20% in May, though it is up 5.2% (16 bps) year over year (YoY).
- Serious delinquencies – loans 90+ days past due but not in foreclosure – improved seasonally for the fifth consecutive month but are still up 56,000 (14%) from the same time last year.
- Disaster-related delinquencies also improved, with those related to the 2024 hurricane season falling by nearly 5K (26%) month over month (MoM) and Los Angeles wildfire-related delinquencies falling by a more modest 9% MoM.
- For the third consecutive month, foreclosure starts, active foreclosures and foreclosure sales rose annually as VA foreclosure resumptions continue to make their way through the pipeline.
- Prepayment activity, as measured by single month mortality, inched up to 0.71%, the highest level since October 2024, driven by a seasonal rise in home sale-related prepayments. Prepayments were up 23.4% YoY.
