Fannie Mae Delinquencies Increased in January

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Fannie Mae released its monthly summary (.pdf) for January yesterday. The news wasn't good. "Seriously delinquent" mortgages -- those with payments at least 90 days past due -- increased again to 5.52%. Calculated Risk provides the following utterly disturbing chart:

fannie delinq 2010-01 CR.jpg

To better see how the trend has changed recently, I used the Fannie report and zoomed in on this data since January 2009:

fannie delinq 2010-01 DI.PNG

If you really want to strain to find some good news in this awful trend, then I guess you can say that the slope of this curve began flattening in December. But that's really reaching. Severe delinquencies are still increasing. This shows that foreclosures are far from slowing; indeed, in the prime market, they should continue to increase according to this data.

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Daniel Indiviglio was an associate editor at The Atlantic from 2009 through 2011. He is now the Washington, D.C.-based columnist for Reuters Breakingviews. He is also a 2011 Robert Novak Journalism Fellow through the Phillips Foundation. More

Indiviglio has also written for Forbes. Prior to becoming a journalist, he spent several years working as an investment banker and a consultant.
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