The following is a roundup of real estate news items:

U.S. foreclosure rate rises, Nevada tops the list
Nevada continued its reign as the foreclosure leader in May, with a rate of one foreclosure filing for every 118 households, data provider RealtyTrac reported today. Nevada has led states in its rate of foreclosure for the past 17 months. Properties in that state had 9,009 foreclosure filings in May, up 24 percent compared to April and up 72 percent from May 2007.

Nationally, foreclosure filings were up 4.4 percent in May compared to the previous month, and up 48.3 percent compared to May 2007. There was one foreclosure filing for every 483 U.S. households in May. It was the 29th consecutive month of year-over-year increases in foreclosure activity, and the third straight month of month-to-month increases in foreclosure activity.

California had the highest volume of foreclosure filings, with filings reported on 71,930 properties. Florida was next with filings for 37,364 properties, and Arizona was third on the list with filings on 12,959 properties. California and Florida are home to nine of the 10 U.S. metro areas with the highest rate of foreclosure in May. Stockton, Calif., topped the list of metro areas, followed by Cape Coral-Fort Myers, Fla.; and Merced, Calif.

Inflation fears push mortgage rates up
The Federal Reserve’s concerns about inflation helped push rates on 30-year fixed-rate mortgages to an eight-month high during the week ending June 12, to an average of 6.32 percent with an average of 0.7 point, Freddie Mac reported in its weekly survey. That’s up from 6.09 percent a week ago, but lower than the 6.74 percent rate seen a year ago. The last time the 30-year fixed-rate mortgage rate was higher was the week ending Oct. 25, when the average rate was 6.33 percent.

"Mortgage rates jumped this week after a number of Federal Reserve (Fed) officials, most notably Chairman Bernanke and Vice Chair Kohn, expressed concern over a threat of inflation," said Frank Nothaft, Freddie Mac chief economist. "This led some market participants to believe that the Fed will raise rates more aggressively over the year than previously thought."

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