ICE: Uptick in Non-Current Mortgages in February but State Rankings Little Changed

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 Non-current mortgages ticked up nationally in February from 4.1% to 4.2% with both early-stage delinquencies and mortgages 90+ days delinquent inching higher, according to the most recent ICE Mortgage Monitor. Delinquency and foreclosure rates were little changed in most states in February, with the highest delinquency rates still being posted primarily by the southern states. The five states with the highest non-current rates remain Louisiana (8.6%), Mississippi (8.5%), Alabama (6.4%), Arkansas (6.1%), and Indiana (6.0%). Idaho, Washington, Montana, Hawaii, and Colorado had the lowest non-current rates, all 2.4% or less. The states seeing the greatest y/y increase in non-current rates were Utah (+19%), Arizona (+15%), Maryland (+14.4%), and Nevada (+12.2%). We note that Utah, Arizona, and Nevada all saw modest increases in early-stage delinquencies in February. Hawaii was the only state to post a y/y decline in its non-current rate.


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