USA Today is reporting that mortgage delinquency has dropped to the lowest level since the third quarter of 2008.
Although this is not a new general trend, the latest statistics have tremendous significance, not only for the growing strength of the housing market, but for the economy as a whole.
Low mortgage rates, home price increases and labor market improvement have contributed in the current trend.
The article goes on to say that the delinquency rate is still above the 1 to 2% average historical range, but when you consider that the economy is still recovering from the Great Recession, this news is only encouraging.
You can read the full article by clicking here.