Roughly one in every seven mortgages either was past due or in foreclosure by the end of the third quarter—the highest delinquency rate in the 37-year history of the Mortgage Bankers Association’s National Delinquency Survey.  Two factors are expected to drive delinquencies even higher next year: Underwater homeowners and unemployment.  Nearly one in four homeowners [...]

Median home prices and sales in California both increased in November in year-to-year comparisons, according to a recent report released by the California Association of Realtors.
The median home price of an existing, single-family home rose 5.8 percent in November compared with a year ago, the first time the median home price has increased in year-to-year [...]