MBA: Mortgage Delinquencies Increased in Q4 2025

Summary

The Mortgage Bankers Association reported that mortgage delinquency rates rose to 4.26% in Q4 2025, up 27 basis points from the prior quarter and 28 basis points year‑over‑year. All major loan types—Conventional, FHA, and VA—saw higher delinquencies, with FHA loans spiking to an 11.52% delinquency rate, the highest since Q2 2021, driven by a sharp rise in 90‑plus‑day delinquencies. MBA Vice President Marina Walsh attributes the surge to the expiration of pandemic‑era FHA relief and labor market disparities, noting that newer FHA vintages (2022‑2023) are more stressed than older ones, though improving credit profiles and moderating rates may ease future pressure.