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Friday, June 13, 2008

Housing/Subprime/Credit Roundup — June 13, 2008

Items of Interest:

Foreclosure Pulse blog:
Foreclosure Downpour Continues in May -- Foreclosure activity continued its upward climb in May, increasing on a year-over-year basis for the 29th consecutive month, according to the RealtyTrac U.S. Foreclosure Market Report released today. The report showed one in every 483 U.S. households received a foreclosure filing during the month, the highest monthly foreclosure rate since RealtyTrac began issuing its report in January 2005.

Bank repossessions (REOs) accounted for 28 percent of the total activity and the biggest increase among the three types of foreclosure filings tracked in the report. REOs were up 35 percent from the previous month and 158 percent from May 2007. Default notices increased 1 percent from the previous month and were up 35 percent year over year, while auction notices decreased 3 percent from the previous month but were still up 13 percent year over year.

May foreclosure filings: 261,255 properties, a 7% increase month over month

73,000 homes lost to foreclosure in May - CNN Money
Housing: It'll get worse - CNN Money
Foreclosures Rise 48% in May - Wall Street Journal
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Countrywide Foreclosures Blog:
12,287 Homes Offered For Sale on Countrywide Financial's Website -- Total REO Asking Price: $2,186,243,046 ...


More Countrywide Foreclosure (REO) charts here

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Calculated Risk

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The Daily Reckoning - Australia