Home-foreclosure rates soared nationwide in the first quarter as consumers grappled with the rising costs of living.Check out this chart of the 30 Year Bond futures.The picture tells a story.The trend in interest rates(particularly the long end of the yield curve) is higher.Mortgage rates are higher.The re-introduction of the 30 Year Bond in February didn't help matters.Even if the Fed stopped raising Fed Funds there's no guarantee the long end is going to come down.Higher CPI and PPI numbers mean higher long term rates.
And while Florida recorded a decline in foreclosures, the state still has one of the 10 highest foreclosure rates in the nation, according to a recent report by RealtyTrac.
The first three months of the year saw a 72 percent increase in nationwide foreclosures, compared with the same period of 2005. That's a rate of one for every 358 U.S. households. In Florida, the rate declined 14 percent -- a rate of one for every 247 households.
Friday, April 28, 2006
Foreclosures climb nationally
Orlando Sentinel reports: