Monday, December 28, 2009

Fannie Mae: Delinquencies Increase Sharply in October

This will tell you more about the state of economy than any CNBC talking head:

Fannie Mae reported today that the rate of serious delinquencies - at least 90 days behind - for conventional loans in its single-family guarantee sector increased to 4.98% in October, up from 4.72% in September - and up from 1.89% in October 2008.

Note: These are on conventional mortgages. Not pretty.

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