Ouch.
Calculated Risk shares the news that Fannie Mae "reported today that the rate of serious delinquencies - at least 90 days behind - for conventional loans in its single-family guarantee business increased to 4.98% in October, up from 4.72% in September - and up from 1.89% in October 2008".
Monday, December 28, 2009
A Hockey Stick Graph With Nowhere to Hide
Posted by Harriet at 11:36 PM
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8 comments:
Well gee, no cause for alarm there. Stay in your seats folks, no need to run for the exits.
LOL...
any similarities with Subprime is
merely a coincidence.
It's different here, though, I'm sure.
Pat Until you volunteer at a Special Olympics event and see the well-deserved pride a parent has when a child even competes in an event, you might want to re-consider your unfortunate analogy in a previous post.
Delinquencies can only go up? It will level off at some point, the question is where and when. And to what extent will the GSE's truly mitigate the problem through principle reductions down to today's prices.
CR says foreclosures don't peak until 6 months after unemployment peaks. So I'm guessing locally we're past the hockey stick phase but nationally we have a minimum of another 6 months to go on foreclosures so another 3 months to go on delinquencies, which by eye would put them at about 6.5%? (went from 2.5 to 5% in 10 months, so another 1.5 in 3 months seems like a good guess for the best case scenario peak delinquencies).
It's ok, all debt will be forgiven by the administration.
Ivan, that's not funny!
Reecon Says:
"Pat Until you volunteer at a Special Olympics event and see the well-deserved pride a parent has when a child even competes in an event, you might want to re-consider your unfortunate analogy in a previous post."
Actually My comment still holds,
is the pride you have in your kid,
the same pride Texans have in GWB?
Certainly there was a lot of shame
in the Liberal camp at what Gore lost to.
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