by Bill McBride on 5/19/2010 11:06:00 AM
Wednesday, May 19, 2010
On the MBA conference call concerning the "Q1 2010 National Delinquency Survey", MBA Chief Economist Jay Brinkmann said this morning:
Click on graph for larger image in new window.
This graph shows the delinquency and foreclosure rates for all prime loans.
This is a new record rate of prime loans in delinquency and foreclosure.
Prime loans account for over 75% of all loans.
"We're all subprime now!"
NOTE: Tanta first wrote this saying in 2007 in response to the 'contained to subprime' statements.
I'll have more later today ...
Posted by Bill McBride on 5/19/2010 11:06:00 AM