Consumers are holding their own with their mortgages as banks reported 97.4% current and performing at the end of the third quarter – which was the same level a year ago, the Office of the Comptroller of the Currency (OCC) said Monday.
However, foreclosures are the on the rise, according to the OCC Mortgage Metrics Report, Third Quarter 2025.
Meanwhile, mortgages that are 60 or more days past due – which the OCC calls “seriously delinquent mortgages” also remained unchanged from the third quarter of 2024, the agency said. That metric also includes all mortgages held by bankrupt borrowers whose payments are 30 or more days past due, according to the agency.
One metric that does show some softness in the mortgage market were foreclosures: at the end of the third quarter, the OCC said, 7,903 new foreclosures were started by servicers in the third quarter of 2025 — an increase from the previous quarter and an increase from a year earlier. At midyear, the OCC said, 7,163 foreclosures were initiated; by the end of the third quarter 2024, 6,693 foreclosures were started.
Further, since the beginning of the year, according to OCC, 25,733 foreclosures were started. For all of 2024, 27,043 foreclosures were initiated, the OCC figures show.
OCC Reports Mortgage Performance for Third Quarter of 2025