Filed under: Bad news, Economic data, Housing

U.S. home foreclosures reached another record high in Q4 2007, the Mortgage Bankers Association announced.

A record 0.83% of mortgages were entering the foreclosure process in the last three months of 2007, compared to 0.54% for the same period in 2006, the MBA announced.

In addition, the delinquency rate reached 5.82% in Q4 2007 — the highest level since 1985 — up from 4.95% in Q4 2006.

Continue reading U.S. home foreclosures hit another record high in Q4

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