Surprising rise in mortgage delinquencies: Here's what to know

Mortgage Delinquency Trends - Mortgage delinquencies remain historically low due to increased home values over the past 5 years [1] - Early-stage delinquencies (30-59 days past due) saw a significant jump in May, rising from 0.92% in April to 1.03% in May [2] - ICE Mortgage Technology reported overall delinquencies rising 5.2% in May compared to May of last year [3] - Serious delinquencies (more than 90 days past due) increased by 14% [3] Borrower Financial Stress - Early delinquency increases were led by nearprime, prime, and superprime borrowers, indicating financial stress even among the least risky borrowers [2] - Rising delinquencies point to potential distress among consumers [5] Market Outlook and Consumer Options - It's becoming harder to sell homes, which could worsen delinquency numbers [4] - Consumers have options like selling their homes due to equity or renting them out, given strong single-family rental demand [6] - Increasing delinquency numbers are not a positive sign for consumers [6]