According to the National Delinquency Survey Facts and the Mortgage Bankers Association, The national delinquency (one payment past due) rate for outstanding mortgage loans on one to four unit properties was 6.35% at the end of the first quarter of 2008. (This rate dropped to 3.41% on past due 30 days, 1.31% past due 60 days, and back up to 1.63% past due 90 days.) The number of foreclosure inventory (loans in the foreclosure process) was 2.47% at the end of the same quarter. Subprime ARMs (Adjustable Rate Mortgages) represent 39% of these foreclosure and Prime ARMs represent 23%. The National Average foreclosure start rate on a Subprime ARM loan is 6.32%, driven up by the 9.24% first quarter rate in California and 8.25% in Florida. 43 States were below the National Average. The highest overall delinquency (one payment past due) rates were Mississippi (9.41%) Michigan (7.84%) and Georgia (7.36%). Based on foreclosure inventory, (loans in the foreclosure process) the highest rates were Florida (4.61%) Nevada (4.12%) and Ohio (4.1%). Based on foreclosure starts the highest rates were Nevada (1.93%) Florida (1.86%) and California (1.59%). The Subprime Loans lead the pack in seriously delinquent (90 days or beginning the foreclosure process) loans with 16.42% at the end of 2008 first quarter. The same quarter of 2002 showed a rate of 11.81%. To give a broader picture of the total number of foreclosures, the number of foreclosure starts in all loan types in the first quarter of 2008, was 0.99 percent. The first quarter foreclosure starts from 2002 - 2007 average 0.45percent.