Hussman Funds - Weekly Market Comment - Fed to Markets: "We Ain't Got To Show You No Stinking Credibility"
That fallout from the housing bubble is just beginning to hit its
stride in terms of mortgage delinquencies and foreclosures. As I noted
in my April 14 comment (Which “Inning” of the Mortgage Crisis Are We In?),
since the progression of foreclosures has mirrored the pattern of
adjustable mortgage rate resets, mid-2008 will most likely represent
the highest rate of change in cumulative foreclosures, after which they
will continue to rise but at a moderating rate.