Wednesday, January 7, 2009

New Jersey's Alt-A Mortgage and Sub-Prime loan performance

The New York Fed published data in October that shows how the Alt-A and Sub-prime Mortgages have been performing in New Jersey.

The percentage of loans that are current are much higher for Fixed Rate Loans than for the Adjustable Rate Loans. 84% of Alt-A fixed rate loans in New Jersey were current in October 2008, while just 41% of Adjustable Rate Mortgages (ARMs) in New Jersey's sub-prime mortgage universe were current with their payments.

Click on chart for a larger picture

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