New Foreclosures Rise in California

Dataquick reports that "[f]oreclosure activity in California showed a year-over-year increase during the [third] quarter for the first time in more than three years, the result of lower appreciation rates and riskier loans."

According to the report, "[c]urrent foreclosure levels are extremely low and this increase is a step towards more normal activity. Foreclosures decline when home prices go up. As home appreciation rates come down, we expect the foreclosure numbers to go up. They could double by the end of 2006."