RL Morgan

In Early-Q2 2026, the national delinquency rate stayed flat in the mid-3% range, signaling broad stability as later-stage stress needs monitoring nationwide.
Early-stage delinquencies ran below yearly levels, suggesting most homeowners stayed on track while serious-loan backlogs remained the key pressure point for servicers.
Serious delinquency count ↓11K to 577K for a second straight monthly improvement; foreclosure starts reached 37K, the highest Early-Q2 count since pre-pandemic.
Cure activity topped 62K serious-loan resolutions in both Late-Q1 and Early-Q2, a stronger pace after a weaker 4-mo stretch for borrowers nationwide.
Prepayment activity ↓13% MoM to near 1% as 30-yr mortgage rates reached the mid-6% range, yet some refinancing demand persisted for borrowers.

US Mortgage Delinquencies Hold Steady

US mortgage originations have stayed steady during first half 2026, supported by borrower interest and lending options built for higher-rate conditions across the market.
Flexible loan terms have helped borrowers manage payments, including fixed-rate HELOCs up to $700K and repayment windows stretching 10 to 15 yr.
Starting APRs in the mid-5% range have given some homeowners another equity-access path, while longer terms offer more room to manage monthly obligations.
Innovative financing has also appeared, with a mortgage backed by a housing-finance enterprise funded using bitcoin collateral to meet evolving borrower needs.
Affordability remains a concern, but homeownership and refinancing interest persist as lenders watch policy changes and adapt to evolving economic conditions nationwide.