"More Homeowners Facing Foreclosure"

"About 5.4 million of the country's 45 million home loans were delinquent or in some stage of the foreclosure process in the first three months of the year, according to the Mortgage Bankers Association." Jack Healy (The New York Times)

It is surprising that the market closed up 103 points with data like this. Is a recovery in the bond market more influential than a worsening housing market? Unemployment has not turned around, and so the cycle continues. Oil is still rising and we are still unsure whether or not commercial real estate's ills will be "manageable". Still waiting for a normalization of the recovery. 

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