On Tue, Sep 23, 2008 at 10:45 AM, raghu <[EMAIL PROTECTED]> wrote: > 1) I like the idea but I don't think the numbers are right. The 2.5% > average delinquency rate is I believe for *all outstanding mortgages*. > The delinquency rate for subprimes is, I believe, substantially higher > (closer to 25%). Even with that higher number the idea is still good > because it works on the trickle up principle rather than the trickle > down favored by Paulson/Bernanke.
Here's a recent reference for delinquency rate estimates: http://seekingalpha.com/article/96967-mortgage-delinquencies-continue-to-climb-watch-out-for-other-loans (The Fed study from 2007 may be based on 2006 numbers..) -raghu. -- "I have a heart of a child... in a jar on my desk." - Stephen King _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
