by Calculated Risk on 12/05/2008 10:15:00 AM

Update: 10% of Homeowners with mortgages. Approximately 31% of homeowners have no mortgage.

From the Mortgage Bankers Association (MBA): Delinquencies Increase, Foreclosure Starts Flat in Latest MBA National Delinquency Survey

The delinquency rate for mortgage loans on one-to-four-unit residential properties stood at 6.99 percent of all loans outstanding at the end of the third quarter of 2008, up 58 basis points from the second quarter of 2008, and up 140 basis points from one year ago on a seasonally adjusted basis, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.

The delinquency rate includes loans that are at least one payment past due but does not include loans somewhere in the process of foreclosure.
...

The seasonally adjusted total delinquency rate continues to be the highest recorded in the MBA survey.
...
The percentage of loans in the foreclosure process at the end of the third quarter was 2.97 percent, an increase of 22 basis points from the second quarter of 2008 and 128 basis points from one year ago. The percentage of loans in the process of foreclosure set a new record this quarter.
emphasis added

All new records. There is more detail in the press release:

The seasonally adjusted delinquency rate increased 41 basis points to 4.34 percent for prime loans, increased 136 basis points to 20.03 percent for subprime loans ... The seriously delinquent rate, the non-seasonally adjusted percentage of loans that are 90 days or more delinquent, or in the process of foreclosure, was up from both last quarter and from last year. ... Compared with last quarter, the seriously delinquent rate increased for all loan types. The rate increased 52 basis points for prime loans to 2.87 percent, increased 171 basis points for subprime loans to 19.56 percent ...

Most concerning is the surge in the prime delinquency rate. The prime problem appears to be concentrated in a few states (California and Florida lead the way), and is mostly due to prime ARM loans.