The number of homes across the country that are in foreclosure has gone down by 30% since this time last year. That is one reason why there aren’t more homes on the market right now. There are currently only 0.5% of homes in the foreclosure process, though 2.5% of all homes are delinquent on their mortgages. That’s the most fiscally responsible that we have collectively been in the last nine years.
Speaking of doing well, the NFIB Small Business Optimism Report (yes, someone has actually made it a career to measure how optimistic certain sectors are, and has for at least the last 40 years) rose to the highest level since 2004 this month. In fact, after the election, the euphoric jump hasn’t been more swift since Reagan was elected president. It appears the small businesses love their non-career-politician Republicans.
Mortgage pricing has clawed its way back to the top of the red ceiling and stalled there.