ICE: Mortgage Delinquency Rate Increased Year-over-year in October

From ICE: ICE First Look at Mortgage Performance: Serious delinquencies hit 17-month high while foreclosure activity remains historically muted

• At 3.45% in October, the national delinquency rate was up 6% from the same time last year, marking five consecutive months of year-over-year increases

• While 30- & 60-day delinquencies decreased from September, seriously past due loans (90+ days) continued their slow rise, now up 7.3% from last year and at the highest level since May 2023

• Though both foreclosure starts (+12.2%) and completions (+10.1%) were up in October, both remain down from last year (-12.3% and -9.5%, respectively) and well below pre-pandemic levels

• Likewise, foreclosure inventory was up a modest +1K in the month, but there are 28K fewer loans in active foreclosure than there were at this same time last year

• Prepayment activity rose on easing interest rates to a level not seen in over two years (May 2022) and nearly double where it was last October
emphasis added

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Here is a table from ICE.