We wrote yesterday that we think the bottom is NOT in for Florida real estate. This view is bolstered by the fact that mortgage rates are spiking up fast.

In its latest effort to maintain an annual economic growth rate of 8%, China announced new plans to stimulate the country’s ailing real estate sector.

The residential real estate sector is in shambles and, some economists say, will not recover until the end of 2010, at the earliest. Now it looks like commercial real estate may be the next block to fall in our “Jenga economy.”

US foreclosure filings climbed 65% and bank seizures more than doubled in April from a year earlier as mortgage industry efforts to modify loans fell short, reports Bloomberg.

More than 243,300 properties were in some stage of foreclosure, the highest monthly total since RealtyTrac Inc., a seller of default data, began in January 2005. One in every 519 households received a filing and Nevada, California and Florida had the highest rates. Filings rose 4 percent from March.