Mr. Walsh noted that the effects of recent hurricanes Helen and Milton may become evident in the next reporting period, and that delinquencies may temporarily increase in affected areas. .
The performance of different types of loans also provides insight. While conventional loans saw some improvement, with delinquency rates decreasing to 2.63%, FHA and VA loans saw larger changes. FHA loans saw delinquency rates decrease by 14 basis points to 10.46%. VA loans decreased slightly, down 5 basis points to 4.58%.
However, year-over-year increases were seen across all loan types, with delinquency rates increasing by 13 basis points for conventional loans, 96 basis points for FHA loans, and 82 basis points for VA loans.
MBA's delinquency report includes loans that are past due at least once, but does not count loans that are already in foreclosure. The foreclosure rate rose slightly in the third quarter to 0.45%, up 2 basis points from the second quarter, but still 4 basis points lower than the same period last year.
Regionally, several states had above-average overall delinquency rates, with the highest increase in Texas at 24 basis points, followed by Arkansas (14 basis points) and Florida (13 basis points). , Arizona (12 basis points), and Wyoming (9 basis points).
