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Housing Woes - Charts of the Day

Monday, August 24, 2009, 8:30 PM
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These next two charts, showing that prime mortgages are now the key source of new foreclosures, are shockers. Taken together, they say that prime mortgages are just now beginning to act like subprime mortgages did back in 2007.

Note that prime fixed-rate mortgage foreclosures (red arrow) are now leading subprime adjustable-rate mortgages as the main source of new foreclosure activity.

 

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