Tuesday, March 13, 2007

foreclosures and delinquencies are soaring

when you watch this graph and add the days until the foreclosed home hits the market it should be clear that with the subprime industry meltdown just beginning in decenber http://mortgageimplode.com/ that the real impact will be seen in the future. unfortunately this is only the beginning.

wenn man sich die zeitachse ansieht wann ein haus als zwangsversteigerung den markt trifft und der eigentliche kollaps der subprimekreditgeber im dezember (link oben) begonnen hat kann man sich leicht ausrechnen das das dicke ende erst noch kommen wird. wir sehen hier also leider gerade erst den anfang.

New foreclosures at record high
Mortgage delinquencies rise across the board in fourth quarter

CHICAGO (MarketWatch) -- Many more U.S. homeowners were unable to keep up with their mortgage payments in the fourth quarter, the Mortgage Bankers Association said Tuesday, with the rate of homes entering the foreclosure process hitting a record 0.54%

and the delinquency rate on U.S. home loans leaping to 4.95% from 4.67% three months earlier.

größer/bigger http://tinyurl.com/25xnrv

thanks to http://calculatedrisk.blogspot.com/

The rise was led by subprime mortgages, where delinquencies increased to a seasonally adjusted 13.33% from 12.56%, and FHA loans, which saw a record-high delinquency rate of 13.46%.

Delinquency rates for prime adjustable-rate mortgages rose to a seasonally adjusted 3.39% from 3.06%, while subprime ARMs increased to 14.44% from 13.22% over the quarter. The rate of delinquent prime fixed-rate loans rose to 2.27% from 2.10%, while subprime fixed-rate loans increased to 10.09% from 9.59%.

Rising Delinquencies
The foreclosure inventory rate increased to a seasonally adjusted 0.5% from 0.44% for prime loans and to 4.53% from 3.86% for subprime loans. At 0.54%, the rate of homes entering the foreclosure process breached the cyclical peak set in the second quarter of 2002, after the recession, Duncan said.

Often markets experiencing house-price declines will also experience an increase in foreclosures, relative to times when prices are on their way up, he added. ( a genius! / was für ein genie....)

The states with the highest overall delinquency rates were Mississippi, Louisiana and Michigan, according to the survey.

With respect to foreclosure inventory rates, the top three states were Ohio, Indiana and Michigan. ....

here a broader overview from 2006. / hier noch ne übersicht aus dem jahr 2006

here are more views and stats on this topic

calculated risk http://tinyurl.com/23a68r (make sure you see the table!)

macroblog http://tinyurl.com/33kzcw (dozens of charts!)

mike larson http://tinyurl.com/2ywdv9

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