Mortgage Lending Made Simple

Inflation at the wholesale level soared in January, pushed higher by rising costs for food, energy and medicine. Prices rose at the fastest pace in 16 years, according to the Labor Department. Wholesale prices rose 1 percent last month, more than double the 0.4 percent increase that economists’ expectations. The 1 percent jump in wholesale prices followed a 0.3 percent decline in December and was the biggest one-month increase since a 2.6 percent increase in November. With the January jump, wholesale prices have risen over the past 12 months by 7.5 percent, the fastest increase since the fall of 1981, when the country was in a deep recession.

Foreclosure filings rose 8 percent in January from December and increased nearly 57 percent from January 2007, showing that foreclosure activity continues its upward trend. But the 8 percent monthly increase was not as high as the 19 percent monthly hike in January 2007, and several key states experienced decreasing foreclosure activity from the previous month, according to data from RealtyTrac.

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