ICE Mortgage Monitor – November 2025

“Risk comes from not knowing what you’re doing.” — Warren Buffett

According to the latest ICE Mortgage Monitor, the national delinquency rate fell 2 basis points (bps) in September to 3.42% – this figure is down 6 bps from the same time last year. ICE says FHA loans now account for 47% of all delinquencies and 52% of all serious delinquencies (90+ days past due but not in foreclosure). Interestingly, only 25% of FHA loans that are 90 or more days late are in foreclosure – the lowest share of any product. However, they do point out that FHA guidelines are changing this fall and that share may be poised to grow.