Delinquency rates on prime jumbo mortgages have also risen, though they are lower than those for prime conforming loans, and both rates are below 1 percent. Investors' concerns about mortgage credit performance have intensified sharply in recent weeks, reflecting, among other factors, worries about the housing market and the effects of impending interest-rate resets on borrowers' ability to remain current.
On behalf of Banco de México, I am pleased to welcome you to the “Third Annual International Finance and Macroeconomics Program Meeting” of the Central Bank Research Association, sponsored by Banco de México and the Inter-American Development Bank, and co-organized by the Research Departments of these two institutions jointly with the Federal Reserve Bank of San Francisco.