Foreclosure Activity Resumes Climb in California: Report

Foreclosure Activity Resumes Climb in California: Report

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California Foreclosure Report for May 2009. Foreclosures sales jumped 31.9 percent in May, following a 35 percent increase the prior month. notices of Trustee Sale, which set the auction date and time, also rose a significant 42 percent from April, indicating that foreclosure sales are likely to continue to rise in the weeks and months ahead.

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NEW YORK ( — U.S. foreclosure filings spiked by more than 81% in 2008, a record, according to a report released Thursday, and they’re up 225% compared with 2006. A total of 861,664.

After hitting a record high in April, RealtyTrac has announced that the pace of foreclosures has slowed down, and in May dropped by 6%.Nonetheless, " May foreclosure activity was the third highest month on record, and marked the t hird straight month where the total number of properties with foreclosure filings exceeded 300,000 – a first in the history of our report," said James J.

Freddie Mac: Mortgage rates remain steady  · After all that rates moved lower for the third straight week, but showed signs of leveling off. For the week ending May 16, Freddie Mac announced that 30-year fixed rates fell to 4.07% from 4.10% the previous week. The average for 15-year loans decreased to 3.53% and the average for five-year ARMs moved up to 3.66%.

Over 900,000 households are in the foreclosure process, up 71% from a year ago, according to a survey by the Mortgage Bankers Association. That figure represents 2.04% of all mortgages, the highest.

The C.A.R. report for 2008, released on Dec 16, indicates that approximately 20% of all home sales in California are due to foreclosure, short sale, or default. Following two years of sharp decline in prices, sales of investment residential and residential properties saw increases around the State, in some areas exceeding the 20% increase over.

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