U.S. mortgage performance remained stable in May even as headline delinquencies rose due to a Sunday month-end that pushed some payments into June, according to Intercontinental Exchange (ICE)’s First Look report released Friday.

The national delinquency rate climbed 15 basis points in May to 3.50%, up 4.5% from April, ICE reported. Delinquencies are still below pre-pandemic levels from January 2020, suggesting the increase was more about calendar noise than a sign of broad deterioration.

“While the headline increase in delinquencies may draw attention, the underlying performance picture is stable as delinquencies remain below January 2020 levels,” Andy Walden, head details ⇒

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