The increase of delinquencies is not surprising. We have been expecting an up-tick in delinquencies due to a number of factors.

We expect to see a modest rise in delinquencies in the quarters ahead.

The historical low delinquency rate was 3.9 percent in the late 1970s, while the historical high for delinquencies was 6.07 percent [in 1985]. Right now it's right in the middle between the all-time low and the all-time high, and we're just coming out of a recession.

The effects of Hurricane Katrina in Louisiana and Mississippi are reflected in the overall level of national delinquencies.

We are not expecting the trend to significantly weaken from that, but expect that moderating number to be more like what we expect for next year.

It would probably increase the number of deer killed, but I'm not sure I'm for or against it.