ICE First Look: September Delinquencies Track Seasonal Norms as Foreclosure Pipeline Shifts Toward Recent Vintages
ICE released its September 2026 First Look report showing the national mortgage delinquency rate at 3.66%, up 12 bps month-over-month but in line with seasonal norms and below every pre-pandemic September on record. Foreclosure activity is building: completed sales rose 15% year-over-year and active foreclosure inventory jumped 37% to its highest level since early 2019, with loans originated in 2022 or later now making up 43% of foreclosure starts. Prepayment speeds fell to a 19-month low at 0.59% SMM, down 20% annually, as elevated mortgage rates suppress refinancing.
Key figures
- Smm
- 0.59%
- Loans 30dpd yoy
- up 5%
- Foreclosure sales
- 8200
- Foreclosure starts
- 40000
- Foreclosure sales yoy
- up 15%
- Foreclosure starts yoy
- -2.92%
- Serious delinquent share
- 1.04%
- National delinquency rate
- 3.66%
- Serious delinquencies yoy
- up 21%
- Delinquency rate mom change bps
- 12
- Active foreclosure inventory yoy
- up 37%
- Share completed sales from 2022 plus originations
- 49%
- Share foreclosure starts from 2022 plus originations
- 43%
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.