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.

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.

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.

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.

United States - Delinquency Rate on Single-Family Residential Mortgages, Booked in Domestic Offices, All Commercial Banks was 1.77% in October of 2024, 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 11.48 in January of 2010 and a record low of 1.41 in October of 2004. 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.

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.

This dataset offers a detailed analysis of mortgage delinquency rates across the U.S., specifically focusing on mortgages that are over 90 days late from January 2008 to March 2023. It includes monthly data for each state and the national average, with each column representing the percentage of severely delinquent mortgages for a given month and year. This data is crucial for understanding the trends in mortgage delinquencies over a fifteen-year period, providing insights into the health of the housing market, the economic conditions across different states, and the impact of economic factors and policy changes on homeowners' financial stability.

This statistic presents the mortgage delinquency rates for subprime conventional loans in the United States from 2000 to 2016. The mortgage delinquency rate for subprime conventional loans in the United States amounted to 14.9 percent in 2016.

This dataset focuses on mortgages that are 90 or more days delinquent at the county level across the United States, spanning from January 2008 to September 2019. Mortgages that are 90 or more days delinquent represent loans secured by real estate (typically homes) where borrowers have not made their mortgage payments for at least 90 days or more. This delinquency period is a critical threshold in the mortgage industry and is often an indicator of financial distress for homeowners. Understanding these delinquencies is crucial for assessing the financial health of homeowners and the housing market within various regions, aiding in economic analysis and policy formulation.

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.

Mortgage delinquency rates increased in all states in 2023, except in Connecticut, Delaware, Rhode Island, Vermont, West Virginia, and Wyoming. That year, the percentage of total mortgage debt that was more than 90 days delinquent was the highest in Louisiana, at over one percent. While other years New York State had the highest delinquency rates. The overall mortgage delinquency rate in the United States declined since spiking in the beginning of the pandemic, as the U.S. job market rebounded over the course of 2020 and 2021.

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.

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.

Credit card delinquency reached its highest level since 2019 in the first quarter of 2024, whereas mortgage delinquency declined to its lowest level. This is according to consumer data supplied by large banks that have to report such figures when handling over 100 billion U.S. dollars worth of assets. 3.56 percent of credit card balances were 30 days late - the highest percentage since tracking began in 2012. First-lien mortgage origination remained historically low, likely due to high interest rates and housing prices. Note the graphic shown here is different from another source on credit card delinquency rates in the U.S., as those figures are aggregates.

Graph and download economic data for Delinquency Rate on All Loans, All Commercial Banks (DRALACBN) from Q1 1985 to Q4 2024 about delinquencies, commercial, loans, banks, depository institutions, rate, and USA.

United States - Delinquency Rate on All Loans, All Commercial Banks was 1.62% in October of 2024, according to the United States Federal Reserve. Historically, United States - Delinquency Rate on All Loans, All Commercial Banks reached a record high of 7.40 in January of 2010 and a record low of 1.20 in July of 2022. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Delinquency Rate on All Loans, All Commercial Banks - last updated from the United States Federal Reserve on March of 2025.

United States - Delinquency Rate on Loans Secured by Real Estate, Banks Not Among the 100 Largest in Size by Assets was 1.09% in October of 2024, according to the United States Federal Reserve. Historically, United States - Delinquency Rate on Loans Secured by Real Estate, Banks Not Among the 100 Largest in Size by Assets reached a record high of 6.37 in July of 2009 and a record low of 0.66 in October of 2022. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Delinquency Rate on Loans Secured by Real Estate, Banks Not Among the 100 Largest in Size by Assets - last updated from the United States Federal Reserve on March of 2025.

As of March 2024, the 30-day delinquency rate for commercial mortgage-backed securities (CMBS) varied per property type. The share of late payments for office CMBS was the highest at over 6.58 percent, about two percentage points higher than the average for all asset classes. A 30-day delinquency refers to payments that are one month late, regardless of how many days the month has. Commercial mortgage-backed securities are fixed-income investment products which are backed by mortgages on commercial property.

United States - Delinquency Rate on Loans Secured by Real Estate, All Commercial Banks was 1.64% in October of 2024, according to the United States Federal Reserve. Historically, United States - Delinquency Rate on Loans Secured by Real Estate, All Commercial Banks reached a record high of 10.20 in January of 2010 and a record low of 1.21 in July of 2022. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Delinquency Rate on Loans Secured by Real Estate, All Commercial Banks - last updated from the United States Federal Reserve on March of 2025.

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.