by Calculated Risk on 6/05/2008 04:45:00 PM

PJ at Housing Wire has more on the rise in delinquencies for prime loans: Primed for Trouble: Pace of Mortgage Distress Shifts to Prime Borrowers

[A]n alarming shift of the mortgage mess towards prime borrowers appears to be taking place ... signaling that the credit crunch that began among those with less-than-perfect credit is now marching onward towards borrowers usually deemed better credit risks.

... the Q4 to Q1 change in severe delinquencies strongly favors prime borrowers, for example, with severe DQs increasing by 19.2 percent for prime and 13.7 percent for subprime borrowers.

See the entire article - the problems are accelerating rapidly for prime loans.