321,480 properties in May 2009 had foreclosure filing initiated (default notice or auctions).
As of May, one (1) in every 398 Mortgage got a foreclosure filing
Foreclosure filings dipped 6 percent in the month but increased 18 percent from May 2008, marking the third highest month on record.
one million foreclosure filings in a three-month period (March, April & May)
Temporary freezes on foreclosure activity ended in March.
RealtyTrac forecasts about 4 million foreclosure filings will be made this year on about 3.1 million households with loans. Last year, there was a record 3.1 million filings on about 2.4 million households.
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In another article titled "Mortgage Rates Head for 6 percent: 5 Reasons They Might Retreat", you can sense that the next week's job numbers is going to decide the trajectory of the market.
And the other 4 reason
1. Government intervention:
3. Stock market tumble
4. Exit strategy:
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Review 2008 Foreclosure Filing stats...
In China - Industrial production, a key gauge of activity in factories and plants across China, grew 8.9 percent in May, the National Bureau of Statistics said -- compared to a 7.3 percent increase in April and 8.3 percent in March. Retail sales meanwhile grew 15.2 percent in May Read More...