Recently, I’ve found myself repeating the phrase “it’s always darkest before dawn.”
Yesterday I was speaking with a town clerk. Town clerk’s offices across the state tell the tale of the boom and bust of the housing market in the state. The clerk informed me that last year they had over 12,000 filings and this year that number is down to 8,000. The clerk informed me that there has been a significant spike in judgment liens, lis pendens and foreclosure notices and a steep decline in mortgages and transfers.
This morning I saw on the news that the fed is considering a plan to lower rates on 30 year mortgages to a fixed rate of 4.5%.
Is this dawn? I don’t know but I sure hope so.