Maybe you missed the news?
Here are the details, in a nutshell:
* One in seven homeowners with subprime ARMs were at least 30 days late on their house payments, last quarter;
* The delinquency rate (at least 30 days past due) among borrowers with subprime adjustable-rate mortgages was 14.4 percent in the final three months of 2006;
* About 9 percent of homeowners with subprime ARMs were more than 90 days late or were in foreclosure;
* Ten percent of subprime fixed-rate loans are at least 30 days past due;
* 13.3 percent of all subprime loans (fixed-rate and ARM) were in default;
* Of all loans, the delinquency rate at the end of last year was 5 percent, up from 4.7 percent a year earlier.
This data is all over the web, but I pulled it from Holden Lewis’ Mortgage Matters column, at Bankrate.com.
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Updated: 1st Q 2018