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Investor's Business Daily

June 6th, 2008

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Mortgage Delinquencies, Foreclosures at Record High

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Delinquencies jumped 0.53 point in Q1 to 6.35%, the highest since records began in '79. Delinquencies of both subprime and prime loans jumped. The new foreclosure rate climbed 16 basis points to a record 1.99% as the subprime rate topped 4%. But the foreclosure rate for gov't-backed FHA loans fell.