Mortgage Foreclosures Rise in 2Q

Mortgage foreclosures climbed in the spring as higher interest rates and energy prices made monthly payments harder for some homeowners, the Associated Press reports.

The Mortgage Bankers Association, in its quarterly mortgage survey released Wednesday, reported that the percentage of mortgages that started the foreclosure process in the April-to-June quarter rose to 0.43 percent. That was up from 0.41 percent in the first quarter and was the highest in just over a year. The association's survey covers 42.5 million loans.

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