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Triangle Business Today

Foreclosures increase; Greek debt deal on the horizon?

Posted February 17, 2012

Is this the calm before the storm?

With another potential Greek bailout on the horizon, the question I pose to you is will we see a resolution to this crisis followed by rising mortgage rates? If enough uncertainty is removed from the economic table, and fewer funds flow into US Treasuries, then we may see some upward movement in mortgage rates over the next few weeks. Stay tuned next week as another chapter in the Greek Diaries is written.

According to a report from Realty Trac foreclosures are on the rise again increasing 3% in January. This is not only an important trend for us to watch, but a potential concern as well as increased foreclosures could mean additional headwinds for an already fragile housing recovery.

Markets are closed on Monday for the President’s Day Holiday. Stock and Bond Trading will resume Tuesday. Have a great weekend.

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About this Blog:

Jeremy Salemson, CEO of Corporate Investors Mortgage Group, blogs about economic trends and data and their impact on Triangle business. Each week, he interviews a Triangle-area business leader for a personal look at the local economy.