The total FHA delinquency rate hit 11.86%, the third-highest reading in the past decade.

The total delinquency rate for FHA loans in Ginnie Mae mortgage-backed securities rose nearly 100 basis points from the end of September to the end of December, according to a recent Inside Mortgage Trends analysis.

GSE purchase-mortgage business with private MI declined at about half the rate of the decline seen in FHA purchase-mortgage business in the fourth quarter of 2025.