Foreclosures keep on climbing ...

RealtyTrac just released its latest foreclosure report for January 2007. FCs were up 19% month-on-month from December to 130,511. That’s the biggest MOM gain since August 2006, and it leaves the foreclosure count at a new high. This chart shows the history of the indicator, which I only have data for going back to 1/05.

If there was any sliver of a silver lining, it's that the year-over-year rate of increase was down to +25.1% from +34.9% a month earlier. The biggest YOY increase in any given month was November 2006 (+68.1%). But that's not saying a lot. The fact is, this mortgage delinquency/foreclosure problem is going to be with us for quite some time.