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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Mark Adams who wrote (108400)	6/12/2001 11:37:48 PM
From: patron_anejo_por_favor	Read Replies (1) of 436258

<<Note this article didn't even bother to qualify what type of loan was seeing 10% deliq rate, and 400k compared to what?>> They did qualify it...it was FHA loans to prime borrowers, the info was buried in the text. Across the country, a drop in energy costs helped the delinquency rate for Federal Housing Administration loans fall slightly, to a seasonally adjusted 10 percent in the first quarter, from 10.2 percent in the fourth quarter, the Mortgage Bankers Association said yesterday. But since the first quarter of 2000 the rate has climbed from 8.4 percent. Err, lessee, if it went from 8.4% to 10%, and the increase was 400,000, then 400,000= (x)*(10-8.4)/8.4 Where x is the initial number of delinquencies and 400,000+x is the current number of delinquencies. (Approx 2.1 million vs 2.5 million now). Algebra RULEZ!<G>

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