by Calculated Risk on 9/05/2008 01:45:00 PM

“Subprime ARM loans accounted for 36 percent of all foreclosures started and prime ARMs, which include option ARMs, represented 23 percent. However, the increase in prime ARMs foreclosure starts was greater than the combined increase in fixed-rate and ARM subprime loans. Thus the foreclosure start numbers will likely be increasingly dominated increasingly by prime ARM loans."
Jay Brinkmann, MBA’s Chief Economist, Sept 5, 2008

Here is the MBA press release: Delinquencies and Foreclosures Increase in Latest MBA National Delinquency Survey

Click on graph for larger image.

This graphs shows the seasonally adjusted rate of all loans entering the foreclosure process each quarter.

This includes all loans, and the graph masks the underlying shift from foreclosures being dominated by subprime loans to foreclosures being dominated by Prime ARMs. See Tanta's: Subprime and Alt-A: The End of One Crisis and the Beginning of Another

This is one of the key housing themes for the next year or more.