NEW YORK (CNNMoney.com) -- The housing market has seen some positive signs recently, such as stabilizing home prices and increased sales, but foreclosures continue to haunt the market.
In the first three months of 2010 foreclosure filings rose 7%, to more than 930,000, compared with the previous quarter, according to the online foreclosure marketing firm RealtyTrac. That is a 16% jump over the first three months of 2009.
Foreclosures started off the first quarter with modest gains but spiked in March to a record 367,000 filings. Plus, nearly 258,000 of those filings were for bank repossessions, the highest quarterly total RealtyTrac has ever reported.
"It looks like the log jam is finally breaking up," said Rick Sharga, a RealtyTrac spokesman. "A lot of foreclosures had come into the process and then just stopped."
Nevada continued to dominate the foreclosure rankings, with one in ever 33 homes receding a filing during the quarter. This is the state's 13th consecutive quarters in the top spot.
Arizona had one for every 49 units, Florida one for every 57 and California one for every 62. The Golden State, by far the nation's most populous, had a total of more than 216,000 filings, more than any other state and 23% of the nation's total foreclosure activity.
Other poor performers included Utah, where the foreclosure rate jumped 75%, Michigan and Georgia.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.62%||3.69%|
|15 yr fixed||2.77%||2.80%|
|30 yr refi||3.61%||3.69%|
|15 yr refi||2.76%||2.83%|
Today's featured rates:
Investors need someone they can bring home to mother instead of bad boys (or girls) that may make their heart beat faster. Boring beats bold in this market. Here are 10 dependable stocks we love. Southwest (ticker symbol: LUV) is one. More
Cheap oil and slow global growth may not be the only culprits of the global market turmoil. There's growing concern that central banks are spooking the markets too. More
Women coders do better than men in a gender-blind study that examines GitHub requests. More
Why is Donald Trump missing from Bleacher Creatures' new line of presidential candidates plush dolls? More