The SA delinquencies for adjustable rate (ARM) and fixed rate (FRM) products are generally down from last year and last quarter. Over the year, the SA delinquency rate for prime ARM products is down 7 basis points (from 2.26 percent to 2.19 percent), while the percentage among prime FRM products decreased 9 basis points (from 2.11 percent to 2.02 percent). Since the second quarter of 2004, the SA delinquency rate for subprime ARM products has decreased 8 basis points (from 10.12 percent to 10.04 percent), while the rate for subprime FRM products dropped 72 basis points (from 9.78 percent to 9.06 percent).
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