First Look at February 2024 Mortgage Data
ICE First Look at Mortgage Performance: Delinquencies Improve and Foreclosures Drop as Prepayments Rise Modestly
- The national delinquency rate eased to 3.34% in February, down 4 basis points (bps) from the month before and 11 bps lower than in February 2023
- While the number of borrowers one payment behind rose modestly by 10K, those 60 days late as well as those 90 or more days past due both fell to their lowest levels in three months
- Delinquency inflows rose 6.5% from January’s eight-month low, while rolls to later stages continued their recent improvement
- Serious delinquencies (loans 90+ days past due but not in active foreclosure) are down 103K (-18%) year over year, with the population now standing at 459K
- Representing 5.3% of serious delinquencies, February’s 25K foreclosure starts is the second lowest in the last twelve months
- The number of loans in active foreclosure fell -7K to 211K, remaining 25% (-72K) below pre-pandemic levels
- 6K foreclosure sales were completed nationally in February, a 9% decrease from the previous month and the second lowest level in the trailing 12-month period
- Prepayment activity rose 3 bps in February to a level not seen since October, as a brief dip in rates heading into the month provided a modest increase in refinance incentive
ATLANTA and NEW YORK – March 21, 2024 – Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, reports the following “first look” at February 2024 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.
![ICE_First_Look_FEB2024_Chart01.jpg](https://static.icemortgagetechnology.com/data-reports/ICE_First_Look_FEB2024_Chart01.jpg)
![ICE_First_Look_FEB2024_Chart02.jpg](https://static.icemortgagetechnology.com/data-reports/ICE_First_Look_FEB2024_Chart02.jpg)
![ICE_First_Look_FEB2024_Chart04.jpg](https://static.icemortgagetechnology.com/data-reports/ICE_First_Look_FEB2024_Chart03.jpg)
![ICE_First_Look_FEB2024_Chart04.jpg](https://static.icemortgagetechnology.com/data-reports/ICE_First_Look_FEB2024_Chart04.jpg)
![ICE_First_Look_FEB2024_Chart05.jpg](https://static.icemortgagetechnology.com/data-reports/ICE_First_Look_FEB2024_Chart05.jpg)
![ICE_First_Look_FEB2024_Chart06.jpg](https://static.icemortgagetechnology.com/data-reports/ICE_First_Look_FEB2024_Chart06.jpg)
*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.
Notes:
- Totals are extrapolated based on Black Knight’s loan-level database of mortgage assets.
- 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 /resources/data-reports by April 1, 2024.
For more information about gaining access to ICE’s loan-level database, please send an email to Mortgage.Monitor@bkfs.com.
About Intercontinental Exchange
(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 – including the – and 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, and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At , 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 . Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment žžƵ 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.
Media Contacts
Mitch Cohen
704.890.8158
ٳ.dz.dzċċ
Katia Gonzalez
678.981.3882
katia.gonzalez@ice.com