Latest news with #ICEMortgageTechnology
Globe and Mail
5 days ago
- Business
- Globe and Mail
ICE First Look at Mortgage Performance: Delinquencies Trend Slightly Higher in June as Foreclosure Activity Continues to Rise off Pandemic-Era Lows
ICE Mortgage Technology, neutral provider of a robust end-to-end mortgage platform and part of Intercontinental Exchange, Inc. (NYSE: ICE), today released its June 2025 ICE First Look, which shows that while overall mortgage payment performance remains strong, delinquencies rose on a monthly basis while foreclosures trended notably higher year over year (YoY). Key takeaways from the ICE First Look, which reports on month-end delinquency, foreclosure and prepayment statistics sourced from ICE's loan-level database, include: The national delinquency rate rose by 15 basis points (bps) from May to 3.35% driven by early-stage delinquencies. FHA delinquencies, which tend to experience more seasonality, rose by 41 bps in the month, hitting their highest June level since 2013, excluding the 2020-2021 pandemic-era impact. Serious delinquencies (SDQs) – loans 90+ days past due but not in foreclosure – held steady but are up +8% (35K) YoY, with FHA loans now accounting for +51% of all SDQs nationwide. Foreclosure activity continues to rise off pandemic-era lows with the share of loans in active foreclosure up +10% from the same time last year. Foreclosure starts and sales both rose YoY in each of the past four months. Prepayment activity, measured in single month mortality, slipped by 6 bps to 0.65% on higher rates, although it remains up +22% from the same time last year. Data as of June 30, 2025 Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.35% Month-over-month change: 4.74% Year-over-year change: -3.80% Total U.S. foreclosure pre-sale inventory rate: 0.38% Month-over-month change: 0.20% Year-over-year change: 9.90% Total U.S. foreclosure starts: 31,000 Month-over-month change 9.68% Year-over-year change: 36.50% Monthly prepayment rate (SMM): 0.65% Month-over-month change: -8.74% Year-over-year change: 21.91% Foreclosure sales: 6,300 Month-over-month change: -9.70% Year-over-year change: 18.17% Number of properties that are 30 or more days past due, but not in foreclosure: 1,834,000 Month-over-month change: 90,000 Year-over-year change: -39,000 Number of properties that are 90 or more days past due, but not in foreclosure: 466,000 Month-over-month change: 0 Year-over-year change: 35,000 Number of properties in foreclosure pre-sale inventory: 208,000 Month-over-month change: 1,000 Year-over-year change: 22,000 Number of properties that are 30 or more days past due or in foreclosure: 2,042,000 Month-over-month change: 91,000 Year-over-year change: -17,000 Top 5 States by Non-Current* Percentage Louisiana: 7.78% Mississippi: 7.63% Alabama: 5.73% Indiana: 5.25% Arkansas: 5.23% Bottom 5 States by Non-Current* Percentage California: 2.23% Montana: 2.20% Colorado: 2.14% Idaho: 2.01% Washington: 2.00% Top 5 States by 90+ Days Delinquent Percentage Mississippi: 1.93% Louisiana: 1.87% Alabama: 1.45% Arkansas: 1.33% Georgia: 1.31% Top 5 States by 12-Month Change in Non-Current* Percentage Maine: -3.31% New York: -3.67% Rhode Island: -3.35% Nebraska: -3.33% Hawaii: -2.31% Bottom 5 States by 12-Month Change in Non-Current* Percentage Florida: 4.21% Georgia: 5.05% Montana: 2.20% Arizona: 3.05% Utah: 2.96% *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 by August 11, 2025. For more information about gaining access to ICE's loan-level database, please send an email to ICE-MortgageMonitor@ About the ICE First Look ICE maintains the nation's leading repository of loan-level residential mortgage data and performance information – which covers the majority of the U.S. market – including tens of millions of loans across the spectrum of credit products and more than 230 million historical records. In addition, the company maintains a robust public property records database that covers 99.9% of the U.S. population and households from more than 3,100 counties. ICE's research experts carefully analyze this data to produce the First Look, a monthly summary of month-end delinquency, foreclosure and prepayment statistics. About Intercontinental Exchange Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE's futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world's largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines and automates industries to connect our customers to opportunity. Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading 'Key Information Documents (KIDS).' Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors ICE's Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on February 6, 2025.
Yahoo
7 days ago
- Business
- Yahoo
Over 30 million US homes don't have a mortgage, report says — why that's a red flag for the housing market
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Housing affordability has become a pressing issue in America — with studies suggesting that buyers now need a six-figure salary to comfortably cover the mortgage on a typical home. Yet millions of Americans already own their homes outright. According to Fortune, citing a recently published Goldman Sachs note, the share of U.S. homeowners without a mortgage rose from 33% in 2010 to 40% in 2023. Assuming there are 86 million homes nationwide, the outlet estimates more than 30 million are now owned free and clear. As more Americans pay off their homes, equity continues to build. ICE Mortgage Technology estimated that heading into the second quarter of 2025 U.S. mortgage borrowers held $11.5 trillion in 'tappable' home equity — or equity available for borrowing while maintaining at least a 20% cushion. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) You don't have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here's how While it's possible to access that equity through loans or lines of credit, Goldman Sachs notes that homeowners today are far less eager to tap into it than they were in the early 2000s. 'Rather, borrowers have focused on paying down their mortgages and owning their homes outright,' said Goldman Sachs analyst Arun Manohar, per Fortune. A major driver of this growing equity is the sharp increase in home values. Over the past five years, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index has climbed more than 50%. That may be good news for existing homeowners — but for first-time buyers, the picture is far more challenging, especially with mortgage rates still elevated. According to the National Association of Realtors, the share of first-time home buyers in the U.S. fell to just 24% in 2024 — a record low — down from 32% a year prior. Fortune called the situation both 'a warning sign' and a 'chicken-and-egg' dilemma — noting that many older homeowners who bought their properties decades ago aren't downsizing, largely due to fears of today's higher mortgage rates. With that inventory staying off the market, supply remains tight and prices stay elevated — making it even harder for younger generations to break into homeownership. Getting on the real estate ladder So, just how difficult is it to buy a home in America today? According to a typical household would need to earn $118,530 annually to afford a median-priced home of $402,500 in the U.S. — more than 50% higher than the current median household income of about $77,700. In pricier states like California, the income requirement can soar even higher: a household would need to earn a whopping $210,557 a year to afford a typical home in the Golden State. Still, real estate remains a popular path to building wealth. For one, it's a classic hedge against inflation. As inflation rises, home values tend to increase as well, reflecting higher costs for materials, labor and land. Rental income often follows suit, providing landlords with a stream of income that can adjust with inflation. Second, while real estate moves in cycles, it doesn't require a booming market to deliver returns. Even in a downturn, high-quality, essential properties can continue to generate passive income through rent. In other words, the asset can work for you — regardless of broader market conditions. The best part? You don't need to buy a property outright to invest in real estate. Read more: Rich, young Americans are ditching the stormy stock market — Become a real estate mogul — starting with $100 Crowdfunding platforms like Arrived have made it easier than ever for everyday investors to gain exposure to America's real estate market. Backed by world-class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants. The process is simple: browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you'd like to purchase, and then sit back as you start receiving any positive rental income distributions from your investment. Tap into the multitrillion-dollar home equity market. Americans have built substantial wealth through homeownership, but the $35 trillion U.S. home equity market has historically been the exclusive playground of large institutions. Homeshares is changing the game by allowing accredited investors to gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property. With risk-adjusted target returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets. Be the landlord of Walmart If you've ever been a landlord, you know how important it is to have reliable tenants. How do grocery stores sound? That's where First National Realty Partners (FNRP) comes in. The platform allows accredited investors to diversify their portfolio through grocery-anchored commercial properties without taking on the responsibilities of being a landlord. With a minimum investment of $50,000, investors can own a share of properties leased by national brands like Whole Foods, Kroger and Walmart, which provide essential goods to their communities. Thanks to Triple Net (NNN) leases, accredited investors are able to invest in these properties without worrying about tenant costs cutting into their potential returns. Simply answer a few questions — including how much you would like to invest — to start browsing their full list of available properties. What to read next How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you'll need a substantial stash of savings in retirement 5 simple ways to grow rich with US real estate — without the headaches of being a landlord. Start now with as little as $10 This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchases. Here's how to buy the coveted asset in bulk Financial aid only funds about 27% of US college expenses — but savvy parents are using this 3-minute move to cover 100% of those costs Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-06-2025
- Business
- Yahoo
HELOC rates today, June 30, 2025: Home equity line of credit rate holds steady
HELOC interest rates are standing firm today. In fact, equity borrowing costs have been moving lower over the past 12 months. Recent research by ICE Mortgage Technology found that the monthly payment on a $50,000 HELOC has fallen $100 in the last year. A home equity line of credit allows homeowners with low-rate purchase mortgages to avoid refinancing and losing a low interest rate. Keep your rate, use your equity. It can be a powerful financial tool. Now, let's check the latest HELOC rates. Dig deeper: HELOC vs. home equity loan: Tapping your equity without refinancing According to Zillow, the rate on a 10-year HELOC is 6.50% today. The same rate is also available on 15- and 20-year HELOCS. Meanwhile, a VA-backed HELOC has an even more favorable rate of 6.15%. Homeowners have a huge amount of value tied up in their houses — more than $34 trillion at the end of 2024, according to the Federal Reserve. That's the third-largest amount of home equity on record. With mortgage rates lingering in the high 6% range, homeowners are not likely to let go of their primary mortgage anytime soon, so selling the house may not be an option. Why let go of your 5%, 4% — or even 3% mortgage? Accessing some of the value locked into your house with a use-it-as-you-need-it HELOC can be an excellent alternative. HELOC interest rates are different from primary mortgage rates. Second mortgage rates are based on an index rate plus a margin. That index is often the prime rate, which today is 7.50%. If a lender added 1% as a margin, the HELOC would have a rate of 8.50%. However, you will find reported HELOC rates are much lower than that. That's because lenders have flexibility with pricing on a second mortgage product, such as a HELOC or home equity loan. Your rate will depend on your credit score, the amount of debt you carry, and the amount of your credit line compared to the value of your home. And average national HELOC rates can include "introductory" rates that may only last for six months or one year. After that, your interest rate will become adjustable, likely beginning at a substantially higher rate. You don't have to give up your low-rate mortgage to access the equity in your home. Keep your primary mortgage and consider a second mortgage, such as a home equity line of credit. The best HELOC lenders offer low fees, a fixed-rate option, and generous credit lines. A HELOC allows you to easily use your home equity in any way and in any amount you choose, up to your credit line limit. Pull some out; pay it back. Repeat. Meanwhile, you're paying down your low-interest-rate primary mortgage like the wealth-building machine you are. Today, FourLeaf Credit Union is offering a HELOC rate of 6.49% for 12 months on lines up to $500,000. That's an introductory rate that will convert to a variable rate later. When shopping lenders, be aware of both rates. And as always, compare fees, repayment terms, and the minimum draw amount. The draw is the amount of money a lender requires you to initially take from your equity. The power of a HELOC is tapping only what you need and leaving some of your line of credit available for future needs. You don't pay interest on what you don't borrow. Rates vary so much from one lender to the next that it's hard to pin down a magic number. You may see rates from nearly 7% to as much as 18%. It really depends on your creditworthiness and how diligent a shopper you are. For homeowners with low primary mortgage rates and a chunk of equity in their house, it's probably one of the best times to get a HELOC. You don't give up that great mortgage rate, and you can use the cash drawn from your equity for things like home improvements, repairs, and upgrades. Of course, you can use a HELOC for fun things too, like a vacation — if you have the discipline to pay it off promptly. A vacation is likely not worth taking on long-term debt. If you take out the full $50,000 from a line of credit on a $400,000 home, your payment may be around $395 per month with a variable interest rate beginning at 8.75%. That's for a HELOC with a 10-year draw period and a 20-year repayment period. That sounds good, but remember, it winds up being a 30-year loan. HELOCs are best if you borrow and pay back the balance in a much shorter period of time.
Yahoo
21-06-2025
- Business
- Yahoo
HELOC rates today, June 20, 2025: Home equity interest rates edge higher
HELOC rates bumped a little higher today. As the Federal Reserve decided this week to once again forego a rate cut, home equity line of credit pricing adjusted with a minor increase. Yet homeowners are tapping the value in their homes at a record rate. HELOC withdrawals in the first three months of the year were at the highest first-quarter level in 17 years, according to ICE Mortgage Technology. Even so, U.S. homeowners are still sitting on $11.5 trillion in accessible equity. Now, let's check today's rates. According to Zillow, today's rates on a 10-year HELOC are higher by seven basis points to 6.79%. The same rate is also available on 15- and 20-year HELOCS. Interest rates on VA-backed HELOCs are higher by three basis points to 6.30%. Homeowners have a staggering amount of value tied up in their houses — more than $34 trillion at the end of 2024, according to the Federal Reserve. That's the third-largest amount of home equity on record. With mortgage rates lingering in the high 6% range, homeowners are not going to let go of their primary mortgage anytime soon, so selling a house may not be an option. Why let go of your 5%, 4% — or even 3% mortgage? Accessing some of that value with a use-it-as-you-need-it HELOC can be an excellent alternative. Dig deeper: Is a HELOC a good idea? Pros and cons to consider. HELOC interest rates are different from primary mortgage rates. Second mortgage rates are based on an index rate plus a margin. That index is often the prime rate, which today is 7.50%. If a lender added 1% as a margin, the HELOC would have a rate of 8.50%. However, you will find reported HELOC rates are much lower than that. That's because lenders have flexibility with pricing on a second mortgage product, such as a HELOC or home equity loan. Your rate will depend on your credit score, the amount of debt you carry, and the amount of your credit line compared to the value of your home. And average national HELOC rates can include "introductory" rates that may only last for six months or one year. After that, your interest rate will become adjustable, likely beginning at a substantially higher rate. You don't have to give up your low-rate mortgage to access the equity in your home. Keep your primary mortgage and consider a second mortgage, such as a home equity line of credit. The best HELOC lenders offer low fees, a fixed-rate option, and generous credit lines. A HELOC allows you to easily use your home equity in any way and in any amount you choose, up to your credit line limit. Pull some out; pay it back. Repeat. Meanwhile, you're paying down your low-interest-rate primary mortgage like the wealth-building machine you are. Today, FourLeaf Credit Union is offering a HELOC rate of 6.49% for 12 months on lines up to $500,000. That's an introductory rate that will convert to a variable rate later. When shopping lenders, be aware of both rates. And as always, compare fees, repayment terms, and the minimum draw amount. The draw is the amount of money a lender requires you to initially take from your equity. The power of a HELOC is tapping only what you need and leaving some of your line of credit available for future needs. You don't pay interest on what you don't borrow. Rates vary so much from one lender to the next that it's hard to pin down a magic number. You may see rates from nearly 7% to as much as 18%. It really depends on your creditworthiness and how diligent a shopper you are. For homeowners with low primary mortgage rates and a chunk of equity in their house, it's probably one of the best times to get a HELOC. You don't give up that great mortgage rate, and you can use the cash drawn from your equity for things like home improvements, repairs, and upgrades. Of course, you can use a HELOC for fun things too, like a vacation — if you have the discipline to pay it off promptly. A vacation is likely not worth taking on long-term debt. If you take out the full $50,000 from a line of credit on a $400,000 home, your payment may be around $395 per month with a variable interest rate beginning at 8.75%. That's for a HELOC with a 10-year draw period and a 20-year repayment period. That sounds good, but remember, it winds up being a 30-year loan. HELOCs are best if you borrow and pay back the balance in a much shorter period of time.
Yahoo
13-06-2025
- Business
- Yahoo
Home equity news: Hidden costs of homeownership and housing market predictions in 2025
HELOCs head downward, while home equity loans stay put HELOC rates fell to 8.22 percent, holding close to their highest levels of 2025, while home equity loan rates held steady at 8.25 percent, near their lowest point of the year, according to Bankrate's national survey of lenders. …and mortgage rates inch up The national average for 30-year fixed-rate mortgage ticked one basis point closer to the 7% benchmark, according to Bankrate's latest lender survey. Buying a home might be the American dream, but owning one in 2025 comes with a hefty price tag — with ongoing expenses that many homeowners don't see coming. A new study by Bankrate finds the average U.S. homeowner shells out more than $21,000 a year on hidden costs, with the biggest chunk (almost $9,000) going to home maintenance. See how your state ranks. Read up: Study: Owning a home costs over $21,000 a year in hidden costs Hard to believe we're halfway through 2025. What will happen to the housing market in the ensuing months? Will it heat up, cool or crash? Bankrate's experts do some forecasting. Learn more: Housing market predictions for the rest of 2025 High equity stakes and lower HELOC rates make it tempting to tap your home's value today. But if the economy is heading into a recession — as seems increasingly likely — borrowing against your biggest asset could backfire. We break down the conditions that make it a tricky move — or conversely, a shrewd strategy. Find out more: Should you tap your home equity in a recession? Your credit score plays a starring role in your homebuying saga. The higher it is, the better chance you have of scoring a lower mortgage rate. We unlock some secrets and strategies to boosting your score for better terms. Read more: How to improve your credit score for a mortgage If you're a first-time homebuyer, finding the right lender is a lot like dating: You want to find the perfect match who supports your goals and won't surprise you with nasty traits later. Here's how to look beyond APR appearances to identify the best fit for your financial future. Learn more: How to compare lenders for first-time homebuyers A home equity loan can be a smart way to pay off outstanding credit card balances and other bills, as it usually carries lower interest rates and longer terms than other financing options. But keep in mind, it's not free money — and the consequences can be dire if you default. Read more: Should you use a home equity loan to pay off debt? $11.5 trillion The amount of tappable home equity 48 million homeowners have entering the second quarter of 2025. Source: ICE Mortgage Technology Technically, these stories were released in the previous weeks, but they're still worth highlighting. Falling behind on a home equity loan or HELOC might not seem like a big deal — at first. But the stakes are sky-high. Unlike credit cards or personal loans, these products are backed by your home. That means means you could lose it, if you fail to make payments. Learn more: What happens when you default on a HELOC or home equity loan? Expecting a child and a mortgage? While getting a mortgage while on maternity leave is possible, it does come with a little extra paperwork and scrutiny from your lender. The key is knowing your rights and what documents you need to keep your growing family and closing on your home on track. Find out more: Getting a mortgage while on maternity leave Achieve your financial goals with predictable payments on a lump-sum home equity loan. Explore offers Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
