ICE First Look at Mortgage Performance: Delinquencies Ended 2024 on a Strong Note Despite Remaining Near a Three-Year High

• The national delinquency rate eased 2 basis points (bps) to 3.72% in December, but rose 4.0% year over year – the seventh consecutive annual increase – ending 2024 near a three-year high
• Early-stage delinquencies fell 41K (-3.6%) in the month, while serious delinquencies (loans 90+ days past due but not in active foreclosure) continued their slow climb – up 29K (+5.7%) in the month and a fifth consecutive rise year over year
• Foreclosure sales declined by 5K (-5.6%) in December, hitting their lowest level in nearly two years, while foreclosure inventory climbed 7K (+3.8%), but was down -10.7% year-over-year
• Despite rising in December on volatility around the holidays, foreclosure starts averaged 26,800 per month in 2024, down from 28,500 in 2023 and lower than any year outside the pandemic moratoria
• Prepayment activity (measured by single-month mortality or SMM) fell to 0.57% on rising interest rates, down -9.8% in the month but up 47.2% from the same time last year

ICE First Look at Mortgage Performance: Delinquencies Ended 2024 on a Strong Note Despite Remaining Near a Three-Year High

ICE Media Contact
Brad Kuhn
brad.kuhn@ice.com
+1 (904) 248-6341

ICE Investor Contact:
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+1 (678) 981-3882

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, reports the following “first look” at December 2024 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

Data as of Dec. 31, 2024

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.72%
Month-over-month change: -0.60%
Year-over-year change: 4.02%

Total U.S. foreclosure pre-sale inventory rate: 0.35%
Month-over-month change: 3.72%
Year-over-year change: -10.68%

Total U.S. foreclosure starts: 31,000
Month-over-month change 50.37%
Year-over-year change: 29.69%

Monthly prepayment rate (SMM): 0.57%
Month-over-month change: -9.83%
Year-over-year change: 47.16%

Foreclosure sales: 5,000
Month-over-month change: -5.63%
Year-over-year change: -6.12%

Number of properties that are 30 or more days past due, but not in foreclosure: ? 2,016,000
Month-over-month change: -11,000
Year-over-year change: 108,000

Number of properties that are 90 or more days past due, but not in foreclosure: 541,000
Month-over-month change: 29,000
Year-over-year change: 66,000

Number of properties in foreclosure pre-sale inventory: 192,000
Month-over-month change: 7,000
Year-over-year change: -20,000

Number of properties that are 30 or more days past due or in foreclosure: 2,208,000
Month-over-month change: -4,000
Year-over-year change: 89,000

Top 5 States by Non-Current* Percentage
Louisiana:		8.60%
Mississippi:		8.33%
Alabama:		6.09%
Indiana:		5.75%
Arkansas:		5.57%
Bottom 5 States by Non-Current* Percentage
Oregon:		2.28%
Colorado:		2.18%
Idaho:		2.15%
Washington:		2.14%
Montana:		2.13%
Top 5 States by 90+ Days Delinquent Percentage
Louisiana:		2.30%
Mississippi:		2.29%
Alabama:		1.68%
Florida:		1.57%
Georgia:		1.49%
Top 5 States by 12-Month Change in Non-Current* Percentage
Hawaii:		-12.70%
New York:		-11.13%
Rhode Island:		-7.32%
Alaska:		-7.23%
Massachusetts:		-6.93%
Bottom 5 States by 12-Month Change in Non-Current* Percentage
Florida:		23.10%
South Carolina:		10.54%
North Carolina:		10.42%
Arizona:		8.93%
Georgia:		7.18%

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.

Notes:

1) Totals are extrapolated based on ICE’s loan-level mortgage and property records databases.
2) All whole numbers are rounded to the nearest thousand, except foreclosure starts and sales, which are rounded to the nearest hundred.

The company will provide a more in-depth review of this data in its monthly Mortgage Monitor report, which includes an analysis of data supplemented by detailed charts and graphs that reflect trend and point-in-time observations. The Mortgage Monitor report will be available online at https://mortgagetech.ice.com/resources/data-reports by February 3, 2025.

For more information about gaining access to ICE’s loan-level database, please send an email to ICE-MortgageMonitor@ice.com.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines and automates industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 8, 2024.

Category: Mortgage Technology

ICE-CORP

Source: Intercontinental Exchange

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