CHART OF THE DAY: Homeowner Delinquencies Getting Worse And Worse

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Some folks out there still seem to think the housing market is bottoming or even turning around. It’s not.

Freddie Mac is out with its latest housing market update, with a wealth of data on the housing market from its perch. One graph that stuck out for us: total delinquencies near 2.5% are way beyond the GSE’s historical norms.

When the numbers for things like delinquencies or foreclosures start to flatten or turn around, we can start talking about a turnaround. Granted, like the Case-Shiller series, some will say this particular chart is 3-months old, though nothing we’ve heard since the end of March suggests things are much different.

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