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I Think the Other Mortgage Lending Shoe(s) Just Dropped


I’m not sure what just caused this air pocket in the market but these note from the Mortgage Bankers Association (MBA) that hit right at noon must have contributed to the slide:

12:02 MBA says U.S. MORTGAGE DELINQUENCY RATE 4.95 PCT IN Q4, UP FROM 4.67 PCT IN Q3 AND FROM 4.70 PCT IN Q4 2005

12:02 MBA says subprime borrowers more vulnerable to higher interest rates, slower home price gains or price drops

12:01 MBA pushes back forecast for housing market to regain footing to end of 2007 vs middle of year

12:01 MBA says delinquency rates rose in 49 states in Q4; foreclosure inventory rates grew in 44 states

12:01 Late payments rise …

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