Foreclosures Post 181% Increase As Mortgage Rates Hit 6.875%

Big news on the home front as home foreclosures rose 181% from a year before in March 2022 and were up 29% from March 2020 when many local restrictions on foreclosures were enacted. Since the relaxing of those rules in 2021, according to this analysis by the Real Deal, foreclosures rates have been rising.

At the same time as home foreclosure rates have hit their recent high of March 2020, mortgage interest rates have reached 6.875%, their highest in well over a decade.

Both trends, taken in concert with the expected move this week of the Fed to increase interest rates by a half point and potentially front load rate increases in an attempt to cool off asset and price inflation point towards more issues ahead in the value of most Americans chief asset, their home…

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