Home foreclosures rate hits record in first quarter
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U.S. homeowners began the foreclosure process at a record pace in the first quarter of 2007, largely due to a sharp rise in previously hot real estate markets such as California and Florida.
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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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Home foreclosure filings surged in the largest metropolitan areas in the United States during 2007, with cities in California, Ohio, Florida and Michigan reporting among the highest rates in the country, real estate data firm RealtyTrac said on Wednesday.
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The percentage of U.S. mortgages entering foreclosure in the first three months of the year was the highest in more than 50 years. according to the Mortgage Bankers Association.
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U.S. housing starts jumped a larger-than-expected 6.4 percent in October to the busiest pace since December as buyers took advantage of low mortgage rates, a government report showed on Wednesday.
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The rate of home loans entering the  foreclosure process rose to a record high in the second quarter  of 2007, driven largely by failing subprime mortgages, an  industry trade group said on Thursday.
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U.S. housing starts unexpectedly rose 4.7 percent last month to a nearly 21-year high as single-family housing starts shot up to a record, a Commerce Department report showed on Wednesday.
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Investment by Japanese firms hit a record in the first quarter of 2007, official data shows.
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Investor's Business Daily - Despite mortgage rates hitting their highest level in almost a year, the Mortgage Bankers Association&#39;s mortgage activity index rose 1.1% to 626.2 in the week ended July 6, with applications for buying homes up 3.8%. Applications were 10.5% above year-ago levels. But the 4-week average fell 1.6% to 6.27 as homebuyers remain wary.
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High numbers of residents in foreclosure in these 50 counties owe more than what their homes are worth.
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The rate of delinquencies and foreclosures rose to 4.7 percent from July through September.
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Construction spending in August hit the highest level on record, fresh evidence that the housing market is helping move the economy ahead.
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More than 1 percent of all households faced foreclosure during 2007, almost twice the previous year's rate, a real estate marketing company said on Tuesday.
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An explosion in overdue mortgages tailored to home buyers with less-than-sterling credit has driven foreclosure filings to record highs in Massachusetts.
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Homeowners increased their mortgage borrowing by almost $600 billion in the last quarter of 2006, an annual pace of 6.4 percent.
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The pace of existing home sales unexpectedly rose in October to a 6.24 million-unit annual rate as a record drop in prices tempted buyers, the National Association of Realtors said on Tuesday.
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Mortgage rates are nearing a five-year high, raising the cost of home ownership for buyers by hundreds or thousands of dollars a year at a time when real estate markets are struggling with tepid demand and a surplus of houses for sale.