News for Folsom Abita Springs and Madisonville, LA - Monday November 23rd, 2009 12:36pm
Mortgage Delinquencies Reach a Record High - NYTimes.com
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November 20, 2009
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HAVE A
FANTASTIC
THANKSGIVIN I
U.8. Mortgage Delinquencies Reach a Record High
By DAVID STREITFELD
The number of people at least one month behind on their house payments rose to a record in the third
quarter, the Mortgage Bankers Association said Thursday.
Nearly 10 in 100 homeowners are delinquent, according to the association's data, up from about seven out of
100 in the third quarter of 2008.
These numbers do not include those who are actually in foreclosure, a figure that also rose sharply. The
combined percentage of those in foreclosure as well as delinquent is 14-41 percent, or about one in seven of
mortgage holders.
"Despite the recession ending in mid-summer, the decline in mortgage performance continues. Job losses
continue to increase and drive up delinquencies and foreclosures because mortgages are paid with paychecks,
not percentage point increases in G.D.P.," Jay Brinkmann, the association's chief economist, said in a
statement.
The data indicates that borrowers in trouble are no longer just those who took out subprime loans. Highquality
prime fixed-rate mortgages now represent the largest share of new foreclosures.
The survey is based on a sample of more than 44 million mortgage loans serviced by mortgage companies,
commercial banks, thrifts, credit unions and others. The association's records date back to 1972.
Copyright 2009 The New Yorl ErM!~ I Terms of Se1'ii~ I Seila:11 I Corrections I RSS I I Eill..L..QQk I ttem I C2rlliI~ I Work for Us I Site..MilJ2
http://www.nytimes.com/2009/11/20/business/20mortgage.html?J=l&hp=&pagewanted ... 11/19/2009

News for Folsom Abita Springs and Madisonville, LA - Friday November 20th, 2009 8:04am
Mortgage Delinquencies Reach a Record High - NYTimes.com
€bt ~t\11Uork €\mts
This copy is for your personal, noncommercial use only. You can order presentation-ready
copies for distribution to your colleagues, clients or customers here or use the "Reprints" tool
that appears next to any article, Visit www.nytreprints.com for samples and additional
information. Order a reprint of this article now.
November 20, 2009
PIiUNTER·f"RIEN:JU FOR14AT
SPC I\iSDR£D BY
Page 1 of 1
HAVE A
FANTASTIC
THANKSGIVIN I
U.8. Mortgage Delinquencies Reach a Record High
By DAVID STREITFELD
The number of people at least one month behind on their house payments rose to a record in the third
quarter, the Mortgage Bankers Association said Thursday.
Nearly 10 in 100 homeowners are delinquent, according to the association's data, up from about seven out of
100 in the third quarter of 2008.
These numbers do not include those who are actually in foreclosure, a figure that also rose sharply. The
combined percentage of those in foreclosure as well as delinquent is 14-41 percent, or about one in seven of
mortgage holders.
"Despite the recession ending in mid-summer, the decline in mortgage performance continues. Job losses
continue to increase and drive up delinquencies and foreclosures because mortgages are paid with paychecks,
not percentage point increases in G.D.P.," Jay Brinkmann, the association's chief economist, said in a
statement.
The data indicates that borrowers in trouble are no longer just those who took out subprime loans. Highquality
prime fixed-rate mortgages now represent the largest share of new foreclosures.
The survey is based on a sample of more than 44 million mortgage loans serviced by mortgage companies,
commercial banks, thrifts, credit unions and others. The association's records date back to 1972.
Copyright 2009 The New Yorl ErM!~ I Terms of Se1'ii~ I Seila:11 I Corrections I RSS I I Eill..L..QQk I ttem I C2rlliI~ I Work for Us I Site..MilJ2
http://www.nytimes.com/2009/11/20/business/20mortgage.html?J=l&hp=&pagewanted ... 11/19/2009

News for Folsom Abita Springs and Madisonville, LA - Thursday November 19th, 2009 11:06am


NOVEMBER 2009

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New Initiative at Stennis Enhances Corridor Appeal
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Northrup Grumman Opens New High-Tech Facility

Northrop Grumman's has opened its new 20,000-square-foot facility in Slidell, combining that office and its Stennis Space Center operations in a $4 million campus. Read more

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News for Folsom Abita Springs and Madisonville, LA - Wednesday November 18th, 2009 12:49pm

THE WALL STREET JOURNAL.
WSJ
NOVEMBER 18,2009, 1121 A.M. ET
Housing Starts Unexpectedly Fall
By JEFF BA TEA
WASHINGTON - Home construction fell sharply in October, an unexpected drop that erased months of gains as uncertainty over renewal of a tax
credit for home buyers increased builders' caution.
Meanwhile, U.S. consumer prices continued to rise at a moderate pace in October, indicating that a slow economic recovery is keeping inflation
contained.
Housing starts decreased 10.6% to a seasonally adjusted 529,000 annual rate compared to the prior month, the Commerce Department said
Wednesday.
The report also said building permits slipped. Both single-family groundbreaking.s and apartment construction tumbled.
Economists surveyed by DowJones Newswires forecast a 1.7%increase in October housing starts, to an annual rate of 600,000. The 10.6% fall carrie.
construction to the lowest point in six months.
The surprise decline came as an $8,000 tax credit for first-time buyers approached a Nov. 30 expiration. This month, Congress approved the relief
through April, ending months of speculation whether the incentive would be extended.
The housing sector is struggling out of the long slump that followed its big boom earlier in the decade. Year over year, housing starts in the U.S. last
month were 30.7% lower than the pace of construction in October 2008. September groundbreaking.s rose by 1.9%to 592,000, adjusted from an
originally reported 0.5% increase to 593,000.
The big fall in October starts marks a setback in the housing sector's recovery. New-home sales hit bottom in January but are up 22% since, the latest
government data show. Buyers surfaced amid an improving economy and a big government tax incentive. With the sales increase, inventories of unso
homes have gone down, leading some builders to resume construction.
As sales rise, builders have been reporting favorable results. Luxury-home developer Toll Brothers lnc.'s said last week that inked contracts for its fisc
fourth quarter rose 42% from a year earlier. The U.S. stock market is way up since March, restoring some wealth to those who might want to buy a
more expensive house.
Nevertheless, Wednesday's data said building permits in October fell 4.0% to a 552,000 annual rate. Economists had expected permits to rise by 0.99
to a rate of 580,000. September permits decreased 0.9% to 575,000. Building permits are a sign of future construction.
Single-family housing starts in October compared to the prior month dropped 6.8% to 476,000.
Apartment construction -- housing with two or more units -- fell 34.6% to 53,000. Within that multi-family category, groundbreakings of homes with
five or more units were 33.3% lower.
Regionally, housing starts fell 9.6% in the South, 18.8%in the Northeast, 10.6% in the Midwest, and 8.5% in the West.