Industry NewsMarkets & Economy

Foreclosure filings rise, mortgages more expensive

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The following is a roundup of real estate news items: U.S. foreclosure rate rises, Nevada tops the list Nevada continued its reign as the foreclosure leader in May, with a rate of one foreclosure filing for every 118 households, data provider RealtyTrac reported today. Nevada has led states in its rate of foreclosure for the past 17 months. Properties in that state had 9,009 foreclosure filings in May, up 24 percent compared to April and up 72 percent from May 2007. Nationally, foreclosure filings were up 4.4 percent in May compared to the previous month, and up 48.3 percent compared to May 2007. There was one foreclosure filing for every 483 U.S. households in May. It was the 29th consecutive month of year-over-year increases in foreclosure activity, and the third straight month of month-to-month increases in foreclosure activity. California had the highest volume of foreclosure filings, with filings reported on 71,930 properties. Florida was next with filings for 37,36...