Residential Real Estate Delinquency Rate Jumps

Both home and commercial loans are going bad at a rapid clip.

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The Federal Reserve says that delinquency rates for residential real estate loans jumped to 6.29 percent in the fourth quarter of 2008 from 5.22 percent in the pervious quarter. The rate has more than doubled from 3 percent in the fourth quarter of 2007. Commercial real estate is experiencing a similar trend. See the figures here. (via Calculated Risk.)

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