Chart 2 | |||||||||
A Rapid Rise in Mortgage Credit Distress is Being Led by Subprime ARMs | |||||||||
Year | Quarter |
All Conventional Prime Mortgage Loans 90+ Days Past Due (%) |
ARM Conventional Prime Mortgage Loans 90+ Days Past Due (%) |
All Conventional Subprime Mortgage Loans 90+ Days Past Due (%) |
ARM Conventional Subprime Mortgage Loan 90+ Days Past Due (%) |
All Conventional Prime Mortgages in Foreclosure (%) |
ARM Conventional Prime Mortgages in Foreclosure (%) |
All Conventional Subprime Mortgages in Foreclosure (%) |
ARM Conventional Subprime Mortgages in Foreclosure (%) |
---|---|---|---|---|---|---|---|---|---|
1998 | 1 | 0.30 | 0.43 | 1.30 | 1.53 | 0.69 | 1.24 | 3.18 | 4.54 |
1998 | 2 | 0.28 | 0.39 | 1.39 | 1.36 | 0.62 | 1.05 | 3.27 | 3.78 |
1998 | 3 | 0.28 | 0.41 | 1.26 | 1.12 | 0.60 | 1.02 | 3.59 | 4.13 |
1998 | 4 | 0.27 | 0.42 | 1.27 | 1.15 | 0.58 | 1.06 | 4.41 | 4.62 |
1999 | 1 | 0.27 | 0.38 | 1.29 | 1.36 | 0.60 | 1.05 | 4.54 | 5.12 |
1999 | 2 | 0.24 | 0.35 | 1.16 | 1.29 | 0.55 | 1.10 | 5.19 | 5.81 |
1999 | 3 | 0.24 | 0.30 | 1.20 | 1.28 | 0.49 | 0.92 | 5.81 | 6.40 |
1999 | 4 | 0.22 | 0.28 | 1.24 | 1.25 | 0.48 | 0.83 | 6.32 | 6.58 |
2000 | 1 | 0.22 | 0.31 | 1.26 | 1.35 | 0.47 | 0.93 | 6.50 | 6.55 |
2000 | 2 | 0.22 | 0.29 | 1.02 | 0.94 | 0.41 | 0.79 | 5.46 | 5.02 |
2000 | 3 | 0.22 | 0.28 | 1.28 | 1.45 | 0.40 | 0.77 | 6.40 | 5.84 |
2000 | 4 | 0.23 | 0.29 | 1.38 | 1.40 | 0.39 | 0.76 | 9.35 | 9.14 |
2001 | 1 | 0.25 | 0.31 | 1.31 | 1.32 | 0.41 | 0.82 | 8.03 | 7.97 |
2001 | 2 | 0.26 | 0.35 | 2.00 | 1.45 | 0.42 | 0.81 | 8.60 | 8.53 |
2001 | 3 | 0.28 | 0.40 | 2.27 | 1.76 | 0.45 | 0.88 | 8.93 | 8.38 |
2001 | 4 | 0.28 | 0.39 | 2.57 | 1.90 | 0.51 | 1.05 | 9.35 | 9.14 |
2002 | 1 | 0.28 | 0.38 | 2.86 | 2.19 | 0.53 | 1.10 | 9.16 | 8.96 |
2002 | 2 | 0.28 | 0.35 | 3.17 | 2.47 | 0.51 | 1.00 | 8.49 | 8.14 |
2002 | 3 | 0.29 | 0.42 | 3.23 | 2.45 | 0.51 | 0.91 | 8.58 | 7.98 |
2002 | 4 | 0.30 | 0.38 | 3.39 | 2.55 | 0.54 | 0.88 | 7.97 | 8.03 |
2003 | 1 | 0.29 | 0.38 | 3.57 | 2.77 | 0.56 | 0.88 | 7.17 | 7.28 |
2003 | 2 | 0.30 | 0.40 | 3.53 | 2.98 | 0.53 | 0.83 | 6.81 | 6.98 |
2003 | 3 | 0.31 | 0.37 | 3.24 | 2.62 | 0.52 | 0.81 | 5.74 | 6.87 |
2003 | 4 | 0.30 | 0.42 | 2.63 | 2.48 | 0.55 | 0.82 | 5.63 | 5.73 |
2004 | 1 | 0.29 | 0.26 | 3.10 | 2.09 | 0.53 | 0.73 | 4.86 | 5.04 |
2004 | 2 | 0.29 | 0.24 | 2.62 | 2.06 | 0.49 | 0.63 | 4.40 | 4.44 |
2004 | 3 | 0.29 | 0.27 | 2.50 | 1.94 | 0.48 | 0.57 | 3.87 | 3.87 |
2004 | 4 | 0.29 | 0.23 | 2.66 | 2.01 | 0.49 | 0.54 | 3.82 | 3.78 |
2005 | 1 | 0.28 | 0.21 | 2.61 | 2.17 | 0.46 | 0.50 | 3.49 | 3.28 |
2005 | 2 | 0.28 | 0.22 | 2.52 | 2.01 | 0.42 | 0.43 | 3.29 | 3.16 |
2005 | 3 | 0.30 | 0.25 | 2.28 | 1.82 | 0.41 | 0.43 | 3.31 | 3.23 |
2005 | 4 | 0.41 | 0.34 | 2.94 | 2.53 | 0.42 | 0.47 | 3.33 | 3.36 |
2006 | 1 | 0.39 | 0.36 | 2.82 | 2.82 | 0.40 | 0.49 | 3.50 | 3.73 |
2006 | 2 | 0.36 | 0.39 | 2.65 | 2.63 | 0.41 | 0.56 | 3.56 | 3.88 |
2006 | 3 | 0.34 | 0.44 | 2.96 | 2.93 | 0.44 | 0.70 | 3.86 | 4.68 |
2006 | 4 | 0.33 | 0.47 | 3.13 | 3.38 | 0.50 | 0.92 | 4.53 | 5.62 |
2007 | 1 | 0.36 | 0.61 | 3.35 | 4.05 | 0.54 | 1.09 | 5.10 | 6.46 |
2007 | 2 | 0.42 | 0.80 | 3.83 | 4.44 | 0.59 | 1.29 | 5.52 | 8.02 |
2007 | 3 | 0.51 | 1.07 | 4.62 | |||||
Source: Mortgage Bankers Association, Haver Analytics |