Lenders initiate foreclosures at record pace
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Lenders launched foreclosure actions against more than one of every 200 U.S. mortgage borrowers in the fourth quarter of 2006, the biggest share of homes at the start of the repossession process on record.
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Housing starts have been very high relative to the number of homes that builders are trying to sell.
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Investor's Business Daily - Despite rising interest rates, the Mortgage Bankers Association&#39;s seasonally adjusted index of application activity edged up 6.6% to 666.5 in the week ending June 8. Its index of purchase activity rose 7.2%, while refinancing activity climbed 5.6%. Analysts called it a scramble to head off rising borrowing costs. Mortgage rates are at their highest since mid-&#39;06.
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As mortgage defaults rise, more houses are being put up for auction  -  and more people are seeing a chance to make big bucks. But there are risks
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Lenders issued $33.2 billion in new loans for commercial properties in the second quarter, up 17.4 percent from the same quarter in 2003, the Mortgage Bankers Association said on Friday.
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Countrywide Financial Corp, the largest U.S. mortgage lender, said on Wednesday that foreclosures and late payments rose in December to the highest on record, sending its shares tumbling for a second day to their lowest in nearly 13 years.
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The rate of U.S. home loans entering the foreclosure process rose to a record level in the first quarter of 2007, while late payments fell from the previous quarter, an industry trade group said on Thursday.
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Homebuilders strode upstairs Tuesday after Toll Brothers (TOL:NYSE - news - research) reported record fourth-quarter sales, citing strong demand from affluent buyers.
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Countrywide Financial Corp , the largest U.S. mortgage lender, said on Wednesday that foreclosures and late payments rose in December to the highest on record, though it made more loans than expected in the fourth quarter.
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As mortgage defaults rise, more houses are being put up for auction -- and more people are seeing a chance to make big bucks. But there are risks
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With the help of low mortgage rates, sales of both new and existing homes in the country are on track to hit new record highs for all of this year, analysts say.
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Mortgage lenders launched more than 70,000 foreclosure proceedings in California in the third quarter, marking a record for the state, where many housing markets are slumping amid mortgage market turmoil, according to a report released on Friday.
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RISMEDIA, Dec. 29 - Low interest rates helped the market for existing single-family home sales to set the highest monthly pace on record in November, according to the National Association of Realtors.
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Six top mortgage companies on  Tuesday launched a new program aimed at staving off foreclosure  for seriously delinquent borrowers in the hopes that new, more  affordable loan terms can be worked out.
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The finances of first-time home buyers are being stretched to record levels by rising house prices.
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The number of home repossessions in the UK rises to its highest since 1999, mortgage lenders say.
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New mortgage accelerator loans promise faster debt repayment.