Seattle Bubble Forum Archive

From HousingWire:

"The six-month increase in the percentage of loans rolling from 30 days delinquent to 60 days delinquent — or from bad to worse — was highest in the Anchorage, Alaska metropolitan statistical area (MSA), followed by the Seattle-Bellevue-Everett, Wash. MSA and the San Francisco-San Mateo-Redwood City, Calif. MSA. Taking the middle slots of the top 10 MSAs were New York-White Plains-Wayne, N.Y.-N.J.; Santa Rosa-Petaluma, Calif.; Edison, N.J. and Lake County-Kenosha County, Ill.-Wis. The bottom of the top 10 list filled out with an Oregon-Washington MSA and another California and New York MSA"

http://www.housingwire.com/2009/03/27/j ... ke-report/

"Jumbo Prime took the cake in terms of which product showed the highest deterioration in 30-to-60-day roll rates from February to July 2005, followed by non-agency conforming prime."

My gut says that's a pretty bad number, but then I had to question what it actually means.

Is there a high correlation between this roll number and how many homes eventually go into foreclosure? Or do a lot of people fall a month behind and then figure a second month is no big deal, but when the house actually reaches the point of foreclosure they finally act?

Gotta say, I'm real shocked to see Anchorage on that list though. Have they been hemorrhaging jobs?