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First Look at June 2023 Mortgage Data

Seriously Delinquent Mortgages Hit Lowest Level Since 2006; Prepayments Trended Seasonally Higher in June Despite Elevated Interest Rates

  • Inching up 2 basis points from May, the national delinquency rate continues to hover near recent record lows, with June’s marking the third lowest level on record
  • The number of serious delinquencies (loans 90+ days past due) dropped to 471K – the lowest since August 2006 – and a 177K (-27%) improvement from June 2022
  • Early-stage delinquencies (30-days late) increased by 19K (+2.2%), while borrowers who’ve missed two payments (60-days past due) ticked up by 5K (+1.7%)
  • Foreclosure starts also increased slightly to 28K for the month – just 1% above the preceding 12-month average and still 38% below the June 2019’s pre-pandemic level
  • Foreclosure was started on 5.8% of serious delinquencies in June, up from 5.1% in May but still three percentage points below the start rate in May 2019 before the onset of the pandemic
  • The number of loans in active foreclosure shrunk another 5K in June and is still down 47K (-17%) from March 2020; meanwhile, June’s 6.9K foreclosure sales (completions) marked a 1.5% increase from May

JACKSONVILLE, Fla. – July 21, 2023 – ICE reports the following “first look” at June 2023 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.

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

Notes:

  • Totals are extrapolated based on ICE’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 https://www.icemortgagetechnology.com/resources/data-reports by Aug. 7, 2023.

For more information about gaining access to ICE’s loan-level database, please send an email to Mortgage.Monitor@bkfs.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.

Media Contacts

Mitch Cohen
704.890.8158
mitch.cohen@ice.com​​​

Katia Gonzalez
678.981.3882
katia.gonzalez@ice.com