RealtyTrac released its March 2008 U.S. Foreclosure Market Report, which shows foreclosure filings — pre-foreclosures, foreclosure auctions and bank-owned REO properties — were reported on 234,685 properties nationwide during the month, a 5 percent increase from the previous month and a 57 percent increase from March 2007. The report also shows one in every 538 U.S. households received a foreclosure filing during the month.

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Lou Barnes in the Inman News reported that "Oppenheimer says that global debt underwriting has fallen 55 percent since July (a $2 trillion strangle). In the first quarter, global bond and stock underwriting combined fell 45 percent; issuance of mortgage-backed securities dropped 82 percent; and non-rated "junk" bonds tanked 88 percent. For those who still buy the Wall Street line that this is all about housing, note that new issuance of state and local student-loan securities, a $330 billion market, in the first quarter fell all the way. Zero." In my opinion, this distressing news probably means there's more foreclosures ahead.

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Today, RealtyTrac released year-end data from its January 2008 U.S. Foreclosure Market Report, which shows foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 233,001 properties during the month, an increase of 8 percent from the previous month and an increase of nearly 57 percent from January 2007. California’s foreclosure rate for January ranked second highest among the states, and Florida’s foreclosure rate ranked third highest. Other states with foreclosure rates ranking among the top 10 were Arizona, Colorado, Massachusetts, Georgia, Connecticut, Ohio and Michigan.

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