Mortgage Delinquencies
by Tom on August 21, 2009
in Cool Charts, Market Musings
Thanks to Calculated Risk for the great charts!
One of the things that I found really interesting about this chart is that FHA is the only loan type where the delinquencies appear to be similar to the percentage of total loans. VA and Conventional are smaller and Subprime is bigger.
Hmmm…..
Tom
Calculated Risk: U.S. Mortgage Market and Seriously Delinquent Loans by Type
A little more information from the MBA Q2 delinquency report:This graph shows the U.S. mortgage market by type. There are about 45 million loans included in the MBA survey, and that is about 85% of the U.S. market.
This is a general breakdown, and apparently Alt-A is included in Prime (it would be helpful to break that out).
The second graph shows the breakdown by type for loans that are either seriously delinquent (90+ days delinquent) or in the foreclosure process. There are about 3.6 million loans in this category.
Clearly subprime is disproportionately represented (much higher delinquency rate), but now over half the loans in this category are Prime – and the delinquency rate is growing faster for Prime. This is now a Prime foreclosure crisis.
