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.
Thursday, May 28, 2009
Baseball, Apple Pie, and Delinquencies
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).
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.
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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