So far there is no end in sight for mortgage delinquencies. The latest data from the Mortgage Bankers Association is showing that over 9% of mortgages out there are now delinquent. This is unprecedented in recent history - see chart (going back to the 70s).
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgDe714xNtD5199DGMEldIqyTFWcJQUQZ3xmvz88uriaV-HReoZADdk0YqAowmxD3Z8knBGpWxVdA1LZkBuyL7VmTCS11BUeFsEEa77Q3kDl9nRp7NCRFY2AXXWwln26_dEa7lBYzAnySSh/s400/delinq.png)
A popular myth out there is that it's the subprime defaults that are driving the rapid rise in delinquencies. Subprime mortgage delinquency rate has hit 25% based on the latest data. But the chart below shows the situation with prime mortgages.
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