Rate of Home Foreclosures Hits Record
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The rate of home loans in foreclosure rose to a record level in the second quarter of 2007 as more homeowners in California, Florida and other states could not refinance their adjustable-rate mortgages.
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Whether you're a home seller, owner or buyer, by this point you've got to be feeling a little rattled. The bad news about the housing market seems never ending: Foreclosures have more than doubled over the past year.
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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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The number of individuals going bankrupt has hit a record high, government figures revealed yesterday in fresh evidence that over-indebted households are struggling to cope with recent interest rate rises.
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Sales of existing U.S. homes  unexpectedly rose by 2.7 percent in November as low mortgage  rates fueled a record pace of home-buying, a trade association  report showed on Wednesday.
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Considering the projections for the number of home foreclosures in the next couple of years -- estimates now start at 1 million annually and go up from there -- you'd have thought there might be more ideas floating around for dealing with this economic, social and political calamity.
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WASHINGTON -- The number of homeowners receiving foreclosure notices hit a record high in the spring, driven up by problems with subprime mortgages.
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Sales of existing U.S. homes rose  unexpectedly to a record high in November and prices surged as  low mortgage rates fueled home-buying, a trade association  report showed on Wednesday.
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In a trend Montgomery County officials called shocking, the median price for a newly constructed single-family detached home in Montgomery rocketed to a record high of $1.13 million in the first quarter of this year, according to government data released yesterday.
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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.
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The state&#39;s housing market continued to hit record levels last month as a dip in mortgage rates and improved inventories spurred many buyers to action, according to the Massachusetts Association of Realtors.
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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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Countrywide Financial, the nation's largest home loan lender, reported yesterday that foreclosures and late payments on mortgages in December soared to their highest levels in five years.
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Business & money: Average interest rates on personal loans have jumped to almost double the advertised rate
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Business & money: Mortgage lending rose to record levels last month as borrowers reacted to further interest rate rises.
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The delinquency rate for mortgage borrowers spiked higher in the second quarter and the number of homes entering the foreclosure process hit a record high, according to a report released Thursday.
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The state's looming foreclosure crisis escalated last month as the number of homeowners threatened with foreclosure more than doubled from a year earlier.