Foreclosures hit record high

I suspect I'll be able to make this same post every month for a long time. From Bloomberg:

The U.S. delinquency rate jumped to a seasonally adjusted 9.12 percent from 7.88 percent, the biggest-ever increase, and the share of loans entering foreclosure rose to 1.37 percent, the Mortgage Bankers Association said today. Both figures are the highest in records going back to 1972. Fixed rates rose to 4.91 percent, Freddie Mac said, and an increase in bond yields earlier this week shows rates may continue rising.

Interactive foreclosure activity map from AP

Nationwide by county. All that red should be worth a sleepless night or two for foreclosure buffs.

Anybody scared yet?

From iTulip comes this graph of the value of property which is being returned to lenders via the foreclosure process. . Anyone care to project that line out twelve months?

The name of this blog

is an anagram of foreclosure.