U.S. foreclosure activity rose 59.8 percent in February compared to the same month last year, data provider RealtyTrac reported today, and Nevada led the nation with a foreclosure rate of one filing for every 165 households — more than three times the national average.

RealtyTrac reported 223,651 total U.S. foreclosure filings in February, which includes filings for properties in default, scheduled for auction and real-estate-owned or REO foreclosure properties that have been repurchased by a bank. The national rate of foreclosure in February was one filing for every 557 households.

A Chicago landlord who ran an advertisement on craigslist seeking “young college students or single females” faces charges that he violated the Fair Housing Act.

The Department of Housing and Urban Development claims the ad posted by the landlord, Cesar A. Lopez, discriminates against men and families with children.

The Fair Housing Act prohibits advertisements that state a preference based on race, color, national origin, religion, sex, familial status or disability

Lopez’s January 2006 ad — which advertised an apartment in an owner-occupied, three-story building — allegedly promised a “great apartment for a single person.”

An abrupt rise in interest rates helped cut mortgage application volume by 1.9 percent last week, the Mortgage Bankers Association reported today.

According to MBA, the seasonally adjusted decline was led by a 4.7 percent decrease in the index that tracks refinancings, despite a 1.4 percent gain in the purchase-loan index. As a result, the refinance share of applications fell to 50.6 percent from 52.4 percent two weeks ago, and the adjustable-rate mortgage (ARM) share dipped to 15.5 percent from 17.3 percent.

A National Association of Home Builders quarterly index that measures builder and developer confidence in the condo market dropped 11 points in the final quarter of 2007 compared to the same quarter in the previous year.

The Multifamily Condo Market Index, based on a survey of builders, stood at 18.8 in the fourth quarter on a scale of zero to 100. A score below 50 indicates more negative responses than positive responses.

About two-thirds of builders reported that they lowered condo prices to strengthen sales, with an average price reduction of 11 percent.

OAKLAND, Calif. — Bush administration officials visited a hotbed of foreclosure activity Thursday to make a case that one solution to the problems plaguing mortgage lending and housing markets is better education of borrowers.

Given that Oakland, Calif., has one of the highest foreclosure rates in the nation, you might think Treasury Secretary Henry Paulson and Treasurer Anna Escobedo Cabral would get a chilly reception trying to pitch financial literacy as a solution for the city’s woes.

While some said the government must do more to prevent foreclosures, the Treasury Department officials got a friendly reception from a banking industry crowd as they took to the stage for a “Financial Literacy Town Hall Meeting” in Oakland’s working-class Fruitvale District.