(California) Foreclosure activity up

http://dailynews.com/business/ci_3157836

Foreclosure activity in California increased annually for the first time in more than three years during the third quarter, reflecting lower appreciation rates and riskier loans, an industry tracker said Thursday.

But it is not a sign of widespread market distress because foreclosure activity is increasing off an extremely low level, said La Jolla-based DataQuick Information Systems.

During the third quarter, lenders sent default notices to 12,568 California homeowners, up 3.5 percent from the year-ago period and up 0.8 percent from the second quarter, said La Jolla-based DataQuick Information Systems.

The last annual increase was a 5.2 percent jump to 30,225 notices in the 2002 first quarter.

Southern California saw a year-over-year increase in foreclosure activity of 19.9 percent, while the Bay Area saw a 13.1 percent decline and the Central Valley a 22.5 percent drop.

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One thing to keep track of, though, is whether adjustable rates continue to rise, since they made up a such a big chunk of mortgages last year.

...more...

then :wtf: is???

Just curious....

of bush's failure.

you can keep going -- libby's indictment is not a sign of cheney's lunacy.

fun declarative statements that if you are a republican or any major media outlet are considered some kind of fact.