New Increases in First and Second Mortgage Default Rates – NMP Skip to main content

New Increases in First and Second Mortgage Default Rates

Nov 21, 2017
The serious delinquency rate for mortgage loans declined from 1.67 percent in the first quarter to 1.37 percent at the end of the second quarter, according to new data from TransUnion

Default rates on first and second mortgages were up in October, according to the latest S&P/Experian Consumer Credit Default Indices report.
 
The first mortgage default rate was 0.67 percent last month, up one basis point from September but below the 0.70 percent rate from one year earlier. The second mortgage default rate rose from 0.53 percent in September to 0.79 percent in October; in October 2016, that default rate was 0.58 percent. The composite rate for consumer credit defaults rose two basis points to 0.90 percent, fueled by the 13-basis-point spike in the bank card default rate to 3.28 percent.
 
“For the first time since January 2017, the default rates for autos, bank cards and mortgages all rose together,” said David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices, who added that the data “does not suggest any unusual financial stress facing consumers which would explain the small, but across the board, increases in the default rates.”

 
About the author
Published
Nov 21, 2017
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026
Newrez, eXp Realty Form Joint Venture To Target Purchase Business

Revenos Mortgage is set to launch in early 2027, replacing eXp's joint venture with Kind Lending

Oct 08, 2026