Graph and download economic data for Delinquency Rate on Single-Family Residential Mortgages, Booked in Domestic Offices, All Commercial Banks (DRSFRMACBS) from Q1 1991 to Q4 2024 about domestic offices, delinquencies, 1-unit structures, mortgage, family, residential, commercial, domestic, banks, depository institutions, rate, and USA.

United States - Delinquency Rate on Single-Family Residential Mortgages, Booked in Domestic Offices, All Commercial Banks was 2.33% in October of 2021, according to the United States Federal Reserve. Historically, United States - Delinquency Rate on Single-Family Residential Mortgages, Booked in Domestic Offices, All Commercial Banks reached a record high of 11.36 in January of 2010 and a record low of 1.40 in January of 2005. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Delinquency Rate on Single-Family Residential Mortgages, Booked in Domestic Offices, All Commercial Banks - last updated from the United States Federal Reserve on March of 2025.

Following the drastic increase directly after the COVID-19 pandemic, the delinquency rate started to gradually decline, falling to 3.37 percent in the second quarter of 2023. In the four quarters, the delinquency rate increased slightly, reaching 3.97 percent. That was significantly lower than the 8.22 percent during the onset of the COVID-19 pandemic in the second quarter of 2020 or the peak of 9.3 percent during the subprime mortgage crisis of 2007-2010. What does the mortgage delinquency rate tell us?The mortgage delinquency rate is the share of the total number of mortgaged home loans in the U.S. where payment is overdue by 30 days or more. Many borrowers are eventually able to service their loan, though, as indicated by the markedly lower foreclosure rates. Total home mortgage debt in the U.S. stood at almost 13 trillion U.S. dollars in 2023. Not all mortgage loans are made equal‘Subprime’ loans, being targeted at high-risk borrowers and generally coupled with higher interest rates to compensate for the risk. These loans have far higher delinquency rates than conventional loans. Defaulting on such loans was one of the triggers for the 2007-2010 financial crisis, with subprime delinquency rates reaching almost 26 percent around this time. These higher delinquency rates translate into higher foreclosure rates, which peaked at just under 15 percent of all subprime mortgages in 2011.

United States - Delinquency Rate on Single-Family Residential Mortgages, Booked in Domestic Offices, Banks Not Among the 100 Largest in Size by Assets was 1.26% in October of 2021, according to the United States Federal Reserve. Historically, United States - Delinquency Rate on Single-Family Residential Mortgages, Booked in Domestic Offices, Banks Not Among the 100 Largest in Size by Assets reached a record high of 4.56 in October of 2009 and a record low of 1.23 in July of 2021. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Delinquency Rate on Single-Family Residential Mortgages, Booked in Domestic Offices, Banks Not Among the 100 Largest in Size by Assets - last updated from the United States Federal Reserve on March of 2025.

The Global Financial Crisis of 2008-09 was a period of severe macroeconomic instability for the United States and the global economy more generally. The crisis was precipitated by the collapse of a number of financial institutions who were deeply involved in the U.S. mortgage market and associated credit markets. Beginning in the Summer of 2007, a number of banks began to report issues with increasing mortgage delinquencies and the problem of not being able to accurately price derivatives contracts which were based on bundles of these U.S. residential mortgages. By the end of 2008, U.S. financial institutions had begun to fail due to their exposure to the housing market, leading to one of the deepest recessions in the history of the United States and to extensive government bailouts of the financial sector.

Subprime and the collapse of the U.S. mortgage market

The early 2000s had seen explosive growth in the U.S. mortgage market, as credit became cheaper due to the Federal Reserve's decision to lower interest rates in the aftermath of the 2001 'Dot Com' Crash, as well as because of the increasing globalization of financial flows which directed funds into U.S. financial markets. Lower mortgage rates gave incentive to financial institutions to begin lending to riskier borrowers, using so-called 'subprime' loans. These were loans to borrowers with poor credit scores, who would not have met the requirements for a conventional mortgage loan. In order to hedge against the risk of these riskier loans, financial institutions began to use complex financial instruments known as derivatives, which bundled mortgage loans together and allowed the risk of default to be sold on to willing investors. This practice was supposed to remove the risk from these loans, by effectively allowing credit institutions to buy insurance against delinquencies. Due to the fraudulent practices of credit ratings agencies, however, the price of these contacts did not reflect the real risk of the loans involved. As the reality of the inability of the borrowers to repay began to kick in during 2007, the financial markets which traded these derivatives came under increasing stress and eventually led to a 'sudden stop' in trading and credit intermediation during 2008.

Market Panic and The Great Recession

As borrowers failed to make repayments, this had a knock-on effect among financial institutions who were highly leveraged with financial instruments based on the mortgage market. Lehman Brothers, one of the world's largest investment banks, failed on September 15th 2008, causing widespread panic in financial markets. Due to the fear of an unprecedented collapse in the financial sector which would have untold consequences for the wider economy, the U.S. government and central bank, The Fed, intervened the following day to bailout the United States' largest insurance company, AIG, and to backstop financial markets. The crisis prompted a deep recession, known colloquially as The Great Recession, drawing parallels between this period and The Great Depression. The collapse of credit intermediation in the economy lead to further issues in the real economy, as business were increasingly unable to pay back loans and were forced to lay off staff, driving unemployment to a high of almost 10 percent in 2010. While there has been criticism of the U.S. government's actions to bailout the financial institutions involved, the actions of the government and the Fed are seen by many as having prevented the crisis from spiraling into a depression of the magnitude of The Great Depression.

The delinquency rate on real estate loans at commercial banks in the United States rose slightly between the fourth quarter of 2022 and the fourth quarter of 2023. Residential real estate loans had a higher delinquency rate at 1.78 percent, compared to 1.15 percent for commercial real estate. Nevertheless, residential loans experienced a decline in the delinquency rate year-on-year, while for the commercial sector, the opposite trend was observed.

Federal Housing Administration (FHA) loans had the highest delinquency rate in the United States in 2024. As of the second quarter of the year, 10.6 percent of one-to-four family housing mortgage loans were 30 days or more delinquent. This percentage was lower for conventional loans and Veterans Administration loans. Despite a slight increase, the delinquency rate for all mortgages was one of the lowest on record.

BackgroundWhere the data come fromThe Mortgage Performance Trends data come from the NMDB, a joint project we’ve undertaken with the Federal Housing Finance Agency (FHFA). For more information, visit the NMDB program page .The core data in the NMDB come from data maintained by one of the top three nationwide credit repositories. The NMDB has a nationally representative, 5 percent sample of all outstanding, closed-end, first-lien, 1–4 family residential mortgages.The data and analyses presented herein are the sole product of the CFPB. Use of information downloaded from our website, and any alteration or representation regarding such information by a party, is the responsibility of such party.Why the data matterMortgage delinquency rates reflect the health of the mortgage market, and the health of the overall economy.The 30–89 mortgage delinquency rate is a measure of early stage delinquencies. It generally captures borrowers that have missed one or two payments. This rate can be an early indicator of mortgage market health. However, this rate is seasonally volatile and sensitive to temporary economic shocks.The 90–day delinquency rate is a measure of serious delinquencies. It generally captures borrowers that have missed three or more payments. This rate measures more severe economic distress.PrivacyThe Mortgage Performance Trends data have many protections in place to protect personal identity. Before the CFPB or the FHFA receive any data for the NMDB, all records are stripped of information that might reveal a consumer’s identity, such as names, addresses, and Social Security numbers. All data shown are aggregated by state, metropolitan statistical area, or county.

Hong Kong HK: Residential Mortgage: Delinquency Ratio: > 6 Months data was reported at 0.010 % in Oct 2018. This stayed constant from the previous number of 0.010 % for Sep 2018. Hong Kong HK: Residential Mortgage: Delinquency Ratio: > 6 Months data is updated monthly, averaging 0.020 % from Dec 2000 (Median) to Oct 2018, with 215 observations. The data reached an all-time high of 0.940 % in May 2001 and a record low of 0.000 % in Nov 2012. Hong Kong HK: Residential Mortgage: Delinquency Ratio: > 6 Months data remains active status in CEIC and is reported by Hong Kong Monetary Authority. The data is categorized under Global Database’s Hong Kong SAR – Table HK.KB008: Residential Property Loans: Residential Mortgage Survey: Ratios.

Delinquency rates rose across all U.S. states in 2022, with Mississippi ranking as the state with the highest share of mortgage loans which were between 30 and 89 days past due. As of December 2022, the average delinquency rate in the country was 1.4 percent, while in Mississippi, it stood at three percent. Wisconsin, Washington, and Oregon had the lowest delinquency rates during that period.

In Hong Kong's banking sector, the default rate on mortgages is very low. In 2024, the delinquency ratio of residential mortgage lending by authorized banking institutions stood at 0.11. The value of issued mortgages exceeded 1.87 trillion Hong Kong dollars.

The mortgage delinquency rate for Federal Housing Administration (FHA) loans in the United States declined since 2020, when it peaked at 15.65 percent. In the second quarter of 2024, 10.6 percent of FHA loans were delinquent. Historically, FHA mortgages have the highest delinquency rate of all mortgage types.

In 2023, the delinquency rates of all types of mortgage lenders in Canada increased. As of the fourth quarter of the year, approximately 1.05 percent of loans in the loan portfolios of mortgage investment entities (MIEs) were classified as delinquent, which was a decrease from the 0.78 percent delinquency rate a year ago. A loan is reported by lenders as being delinquent after 270 days of late payments.

This table contains 102 series, with data starting from 2013, and some select series starting from 2016. This table contains data described by the following dimensions (Not all combinations are available): Geography (1 item: Canada), Components (51 items: Total, funds advanced, residential mortgages, insured; Variable rate, insured; Fixed rate, insured, less than 1 year; Fixed rate, insured, from 1 to less than 3 years; ...), and Unit of measure (2 items: Dollars; Interest rate). For additional clarification on the component dimension, please visit the OSFI website for the Report on New and Existing Lending.

As of March 2024, the 30-day delinquency rate for multifamily mortgage-backed securities (CMBS) stood notably lower than the average for commercial real estate. The share of late payments for multifamily CMBS amounted to 1.84 percent, compared to an average of 4.67 percent for all property types. Although multifamily properties had one of the lowest delinquency rates in the commercial real estate sector, industrial property had an even lower rate.

In the second quarter of 2024, the share one-to-four family residential mortgage loans entering the foreclosure process in the U.S. was 0.13 percent. Following the coronavirus pandemic outbreak in 2020, mortgage delinquency rates surged, followed by a gradual decline. Between the second quarter of 2020 and the first quarter of 2022, foreclosures remained at record low levels due to The Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

Graph and download economic data for Delinquency Rate on Commercial Real Estate Loans (Excluding Farmland), Booked in Domestic Offices, All Commercial Banks (DRCRELEXFACBS) from Q1 1991 to Q4 2024 about farmland, domestic offices, delinquencies, real estate, commercial, domestic, loans, banks, depository institutions, rate, and USA.

Mortgages are categorized as 90 or more days delinquent, it signifies that borrowers have missed at least three consecutive payments on their home loans. States can experience fluctuations in these delinquency rates due to various economic factors, including local job markets, housing prices, interest rates, and other financial circumstances.

The mortgage delinquency rate for Veterans Administration (VA) loans in the United States has decreased since 2020. Under the effects of the coronavirus pandemic, the mortgage delinquency rate for VA loans spiked from 2.81 percent in the first quarter of 2020 to 8.05 percent in the second quarter of the year. In the second quarter of 2024, the delinquency rate amounted to 4.63 percent. Historically, VA mortgages have significantly lower delinquency rate than conventional mortgages.

The United Kingdom, Germany, and France were the countries with the largest mortgage markets in Europe in 2024, when considering the value of loans outstanding. In the second quarter of the year, the UK had more than 1.9 billion euros worth of mortgages outstanding. Other countries with large mortgage markets included the Netherlands, Spain, Sweden, and Italy - all exceeding 400 billion euros. One of the main drivers of mortgage activity is the cost of borrowing. In 2022, interest rates increased dramatically across Europe. Ireland, and Germany remained among the few countries with an average interest rate under four percent.