Non-performing housing loans are normally classed as being in default for three months or more.
In 1996 about 0.3% of all secured loans were in arrears by over 90 days.
By 1999 this had dropped to about 0.2%
These Non-performing loans stayed about that same rate until about 2005 when they began to rise, and between 2006 and 2008 the figure was about 0.4%.
That is about 4 in every 1,000 mortgage holders were in that class in 2008.
This shows that whilst the United States has a rate of over 80 per 1,000 mortgages, both Australia and Canada have rates of closer to 4 or 5 per 1,000. At the same time both the UK and Spain have between about 20 and 25 per 1,000.
Also shown by this time series, is the change for each of these countries. Both Australia and Canada appear to have hardly changed in this graph, since the mid 1900’s, but the US has increased by a marked figure. The UK and Spain both show a drop from the high in 1994, followed by a sharp rise in about 2007.