Good news! According to the National Real Estate Investors Association, as well as, the Mortgage Bankers Association, mortgage delinquency rates are really low! In fact, the rates have declined to their lowest level since before the housing market crash. Not only have mortgage delinquency rates declined, but foreclosure rates have also continued to decline. Foreclosure rates recently fell to their lowest level since 2000.
What does this mean for you? Essentially, this means that we are continuing to rebuild the housing market. Delinquency rates are low, foreclosure rates are low, and interest rates are low. Now is truly the perfect time to sell and/or buy! The market is thriving and these reports are very encouraging for realtors, mortgage companies, and prospective homeowners. We hope that you too will take advantage of this growing market.