Distressed

While it is still early to see the full impact on delinquencies, 5% fewer borrowers in these areas made their monthly mortgage payment by Jan. 17.

Members whose districts include Altadena and Pacific Palisades are behind the measure, which calls for an initial 180-day forbearance period.

Sales rates, as well as bid-to-ask spreads at foreclosure auctions both showed signs of increasing demand from November to December, according to research.

With the growth in the use of government products, further increases in late payment rates over the coming year are likely, ICE Mortgage Technology said.

California's governor previously prohibited price gouging for building materials and housing services after wildfires destroyed or damaged 12,000 structures.

The Palisades fire, stretched across an area larger than Manhattan and where the median home price approaches $4 million, has damaged or destroyed more than 5,000 structures.

Slowing home price appreciation caused Milliman's mortgage default index to increase from quarter to quarter.

Only 5% of homeowners in designated disaster-assistance areas were required to hold flood insurance, according to the Federal Housing Finance Agency's dashboard.

Separate forbearance and government-sponsored enterprise delinquency indicators both reached relatively high levels for the year, but not for the same reason.

Only some of the increase compared with October can be attributed to Hurricanes Helene and Milton, as annual rates have increased six months in a row, ICE Mortgage Technology said.