Mortgage Rates Rise Fourth Straight Week

I was curious how rising gas prices and the disaster in Japan would effect interest rates. I did not see such rates rising for four straight weeks.

The inflation threat is growing.

Report: Low mortgage rates haven’t been enough to lift the struggling housing market. Job worries and tight credit standards have kept people from buying homes. A high number of foreclosures are forcing home prices down, leaving would-be buyers worried that market hasn’t hit bottom.
The number of homes repossessed by banks jumped 13% in March from the month before, biggest increase in a year, foreclosure listing firm RealtyTrac said Thursday. The number of homes receiving their first notice of default grew 16 %.
The pace of foreclosures had slowed in the first quarter because of lender processing delays, but the uptick in March suggests the rate may pick up.
Roughly 5 million borrowers are at least two months behind on their mortgages. RealtyTrac has forecast between 1 million and 1.2 million homes will be taken back by lenders this year.

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (Alexander90210.com), he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Alexander90210.com. Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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