The latest mortgage delinquency data sparked a social media frenzy this weekend, with claims that homeowners are under serious financial stress.
The confusion started with a misleading chart featuring Freddie Mac’s Serious Delinquency rates, coupled with the words, “6.1 million Americans are behind on their mortgage—the highest in 20+ years. Brace for impact.”
Patrick Bet-David, host of the PBD Podcast, was the one who posted the above message.
HousingWire’s lead analyst Logan Mohtashami was quick to highlight a detail that had been overlooked in PBD’s original post: the chart showed delinquency rates on multifamily mortgages—in other words, loans held by the owners of multifamily properties, not single-family homeowners.
So, what’s actually happening with homeowner delinquency rates? That’s where Mohtashami’s responses on IG and X, along with his article on HousingWire, cleared the air.
PBD later edited his Tweet to remove the words, “Brace for impact” and added a clarifying note on the Freddie Mac chart.
6.1 million Americans are behind on their mortgage.
The chart is specific to Multi family delinquency. 👇🏽 pic.twitter.com/wVc0gQSvC3
— Patrick Bet-David (@patrickbetdavid) March 30, 2025
Here’s the reality: homeowner delinquency rates are rising from record lows—but they’re still below pre-pandemic levels, as the following chart shows:
Read on for data worth sharing—and for a quick overview of the confusion on social media, along with the bright spots that set the record straight.
ICE Data: The Real Story on Homeowner Delinquencies
Mohtashami broke down the latest numbers in a new article. The March 21 First Look report from ICE shows that while delinquencies have inched up, they remain below pre-COVID-19 levels:
- The national delinquency rate sits at 3.53%, up 5 basis points in February and 19 basis points year over year.
- FHA loans account for 90% of the increase, despite making up less than 15% of all active mortgages.
- Los Angeles wildfires drove a spike in delinquencies, from 700 in January to 4,100 in February.
- Foreclosures and bankruptcies? Still not back to pre-pandemic levels.
The Takeaway for Real Estate Agents
San Diego Realtor Sarah Messali collaborated with BAM on a reel breaking down the social media drama over Patrick Bet-David’s original Tweet:
Misinformation spreads fast, especially when data gets taken out of context. Here’s what agents need to know:
- Homeowner delinquencies aren’t spiraling out of control. Multifamily mortgages are not the same as single-family homeowner mortgages.
- Market fundamentals remain strong. Yes, delinquencies have ticked up, but they’re coming off historic lows.
- Stay sharp on the numbers. Clients rely on agents who understand the real story behind the headlines.
The bottom line? Don’t let panic on social media dictate your market outlook. Stick to the data, and keep your clients informed with facts—not fear.
