NEW YORK (Reuters) – Delinquencies of prime mortgages originated in 2007 are outpacing those made in 2006, suggesting the U.S. housing and financial crisis may be deeper than initial estimates, the Wall Street Journal said on Thursday.
Citing an analysis prepared for the newspaper by the Federal Deposit Insurance Corp, the Journal said 0.91 percent of prime mortgages from 2007 were seriously delinquent after 12 months, meaning they were in foreclosure or at least 90 days past due.
That figure is nearly triple levels seen in 2006, when 0.33 percent of prime mortgages were delinquent after 12 months, the FDIC data showed
.
