Share of non-performing mortgage loans in the U.S. 2002-2023, by status

The share of non-performing mortgage loans in the United States has declined significantly since the subprime mortgage crisis in 2008. After the burst of the housing bubble, the share of loans which were 90 to 180 days past due date climbed to 4.6 percent. The fourth quarter of 2010 witnessed the highest rate of loans in foreclosure, bankruptcy, or deed-in-lieu amounting to four percent. In the first quarter of 2023, the foreclosure rate stood at 0.2 percent. Despite this being one of the lowest figures on record, it was an increase from the previous quarter. Meanwhile, the 30 to 60 days delinquency rate declined for the first time since heading on an upward trajectory in the second quarter of 2021.