Interest Rate Roundup

Wednesday, December 13, 2006

RealtyTrac: Foreclosures surging ...

Just to follow up on the posts I've had recently about credit quality, RealtyTrac reported that foreclosures climbed 4.1% month-over-month between Oct. and Nov. What's striking is the year-over-year surge -- a whopping 68.1%. The company says 120,334 homes were in some stage of foreclosure last month, or 1 in every 961 homes. This is a new data series, so we don't have a lot of history. But this chart from Bloomberg shows what it looks like graphically.


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