National foreclosure rate hits highest level in six years

The national foreclosure rate has reached its highest level in six years, with the foreclosure inventory rate climbing to 0.4% in March 2026, up from 0.3% a year earlier. This marks the first increase in the foreclosure inventory rate in 15 months and represents the highest level since early 2020.

Rising Foreclosure Activity

Foreclosure filings surged 32% year-over-year in the first quarter of 2026, with nearly 119,000 U.S. properties receiving foreclosure filings—the highest figure since Q1 2020. April 2026 data shows foreclosure activity remained 18% higher than April 2025 levels, with one in every 3,388 housing units receiving a foreclosure filing.

Key Drivers

Homeowners are facing increased pressure from rising costs beyond their mortgage payments. Insurance premiums and property tax bills have escalated significantly, squeezing household budgets and making it harder for borrowers to stay current on their mortgages. The FHA mortgage delinquency rate reached 11.5% in late 2025, nearly 6.5 times the conventional mortgage delinquency rate of 1.8%.

Geographic Patterns

Florida leads the nation with the most foreclosure filings, followed by California and Texas. The national foreclosure rate in April 2026 stood at one in every 3,388 housing units, though this remains well below the 2.23% peak experienced in 2010 during the foreclosure crisis.