"However, we're seeing signs of stress beneath the surface and some indication that borrowers who fall behind are struggling to catch up, progressing into later stages of delinquency, she added. This is particularly evident at the metro level, where the share of areas with rising overall delinquencies declined from 70% in September 2024 to 48% in September 2025. Yet, the share with increasing foreclosure rates jumped from 8% to 39% over the same period. These trends suggest growing challenges for borrowers once they become delinquent."
"September 2025 delinquency rates break down as follows: Early-stage (30 to 59 days past due): 1.6%, unchanged from September 2024 Adverse (60 to 89 days past due): 0.5%, unchanged Serious (90-plus days past due, including foreclosures): 1%, up from 0.9% The transition rate, which measures loans moving from current to 30 days past due, fell to 0.7%, down from 0.8% a year earlier."
Signs of borrower stress are emerging as some delinquent borrowers progress into later stages of delinquency and struggle to catch up. Metro-level patterns show the share of areas with rising overall delinquencies falling from 70% in September 2024 to 48% in September 2025, while the share with increasing foreclosure rates rose from 8% to 39%. September 2025 rates: early-stage 1.6% (unchanged), adverse 0.5% (unchanged), serious 1.0% (up from 0.9%). The transition rate from current to 30 days past due fell to 0.7% from 0.8%. Eighteen states saw year-over-year delinquency increases, led by Arizona, Nevada and Georgia. Of 384 metros, 186 posted higher overall delinquency rates and 174 saw rises in serious delinquency, with Odessa and San Angelo among the largest increases.
Read at www.housingwire.com
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