Monday, June 18, 2007

Shoddy Reporting

A recent article in Center for American Progress starts like this,

"...the MBA reported that the percentage of payments 30 or more days past due for sub-prime adjustable-rate home mortgages have risen 1.31-percent in the first quarter of 2007."

It goes on to say the delinquency rate increased from 14.44% last quarter to 15.75% this quarter. That is a 1.13 point increase, not a 1.31 percent increase; the latter would be a bump to 14.60%. The increase to 15.75% is actually a 9% increase, which is indeed the "striking" increase that the article later refers to. It goes on to say that actual foreclosures were up by "1.58-percent" but gives no other numbers, so there's no way to be sure what that actually means.

No big deal, but I just rather dislike this kind of sloppy reporting.

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