Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today released the January 2026 ICE First Look at mortgage delinquency, foreclosure and prepayment trends.
“Mortgage performance held steady to start the year, with fewer early-stage delinquencies helping bring the national delinquency rate down,” said Andy Walden, Head of Mortgage and Housing Market Research at ICE. “At the same time, late-stage delinquencies and foreclosure volumes are both trending higher than they were a year ago. The data points to a market that remains resilient overall with most borrowers performing well while a subset faces increased payment pressure.”
Key takeaways from this month’s findings include:
- The national delinquency rate eased in January: Delinquencies fell by 3 basis points (bps) in January to 3.65% and remain 15 bps below the January 2020 pre-pandemic benchmark.
- Early-stage delinquencies drove the decrease: The number of borrowers 30 or 60 days late on their mortgage payments fell by 54,000 from December to January, driving the overall improvement in delinquency figures.
- Combined serious delinquency and foreclosure volumes increased: While earlier stage delinquencies improved, there are now more than 850,000 borrowers 90-plus days past due or in active foreclosure, up 104,000 from the same time last year, the largest such volume since July 2022.
- Foreclosure activity continued to rise: January saw 42,000 foreclosure starts, the highest monthly total since early 2020 and up 5% year over year, with foreclosure sales rose 28%.
- Prepayments pulled back: The single month mortality (SMM) rate, which tracks prepayments, dropped 19 bps to 0.72% from elevated levels over the past three months. An uptick in interest rates in December resulted in fewer January home sales and reduced refinance activity.
Data as of January 31, 2026
Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.65%
Month-over-month change: -0.93%
Year-over-year change: 5.04%
Total U.S. foreclosure pre-sale inventory rate: 0.46%
Month-over-month change: 6.78%
Year-over-year change: 22.38%
Total U.S. foreclosure starts: 42,000
Month-over-month change 6.47%
Year-over-year change: 4.77%
Monthly prepayment rate (SMM): 0.72%
Month-over-month change: -21.17%
Year-over-year change: 49.59%
Foreclosure sales: 8,100
Month-over-month change: 13.38%
Year-over-year change: 27.87%
Number of properties that are 30 or more days past due, but not in foreclosure: 2,006,000
Month-over-month change: -19,000
Year-over-year change: 121,000
Number of properties that are 90 or more days past due, but not in foreclosure: 595,000
Month-over-month change: 35,000
Year-over-year change: 55,000
Number of properties in foreclosure pre-sale inventory: 255,000
Month-over-month change: 16,000
Year-over-year change: 49,000
Number of properties that are 30 or more days past due or in foreclosure: 2,261,000
Month-over-month change: -3,000
Year-over-year change: 170,000
|
Top 5 States by Non-Current* Percentage |
|
|
Louisiana: |
8.64% |
|
Mississippi: |
8.53% |
|
Alabama: |
6.35% |
|
Arkansas: |
6.03% |
|
Indiana: |
5.92% |
|
Bottom 5 States by Non-Current* Percentage |
|
|
California: |
2.33% |
|
Colorado: |
2.30% |
|
Washington: |
2.17% |
|
Montana: |
2.16% |
|
Idaho: |
2.08% |
|
Top 5 States by 90+ Days Delinquent Percentage |
|
|
Mississippi: |
2.53% |
|
Louisiana: |
2.42% |
|
Alabama: |
1.94% |
|
Arkansas: |
1.74% |
|
Georgia: |
1.65% |
|
Top 5 States by 12-Month Change in Non-Current* Percentage |
|
|
Florida: |
-1.83% |
|
Hawaii: |
-1.62% |
|
Vermont: |
-0.39% |
|
New York: |
0.09% |
|
Wyoming: |
0.28% |
|
Bottom 5 States by 12-Month Change in Non-Current* Percentage |
|
|
Utah: |
18.06% |
|
Maryland: |
14.73% |
|
Arkansas: |
13.77% |
|
Arizona: |
13.37% |
|
Nevada: |
11.66% |
|
*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state. |
||
| Notes: | ||
|
1) |
Totals are extrapolated based on ICE’s loan-level database of mortgage assets. |
|
|
2) |
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.
For more information about gaining access to ICE’s loan-level database, please send an email to ICE-MortgageMonitor@ice.com.
