A Real Hockey Stick

clipped from wattsupwiththat.com Fannie Mae reported today that the rate of serious delinquencies – at least 90 days behind – for conventional loans in its single-family guarantee business increased to 4.45% in August, up from 4.17% in July – and up from 1.57% in August 2008. “Includes seriously delinquent conventional single-family loans as a percent of the total number of conventional single-family loans. These rates are based on conventional single-family mortgage loans and exclude reverse mortgages and non-Fannie Mae mortgage securities held in our portfolio.” Just more evidence of the growing delinquency problem, although these stats do include Home Affordable Modification Program (HAMP) loans in trial modifications. Now that’s a hockey stick to be worried about. It hardly is a surprise then that when we see that sort of graph of actual data in the American economy, we start to see graphs like this one depicting confidence in climate change as an important issue: