Crude oil futures advanced to a one-week high, topping out at $75.69, and US equities also climbed higher after members of the European Union agreed to help Greece in its debt crisis. Economic solutions still need to be resolved for Portugal, Italy, Ireland and Spain. While equity and futures investors celebrated what appears to be an EU funded bailout of Greece, they apparently ignored disconcerting US domestic housing foreclosure data. RealtyTrac reported today that in January, the number of US families facing foreclosure surged a shocking 15% higher than the same month last year. While an all-time record 2.8 million households faced foreclosure in 2009, RealtyTrac expects that number to rise to 3.5 million this year, marking a potential 40% increase.
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