Daily News 11/21/14

November 21, 2014

Friday – November 21

October mortgage data revealed that the mortgage delinquency rate in October fell to a seven-year low as the housing market continues to recover. Black Knight Financial Services reported on Friday that the total delinquency rate fell to 5.44% in October, down 4.14% from September and lower by 13.43% from October 2013. The analytics company went on to say that foreclosure inventory fell 33% from last year’s total to the lowest level in six years.

U.S. Stock markets hit all-time high closing records on Thursday led by strong corporate earnings, an improving economy and a recovering job market. The closely watched S&P 500 Stock Index closed at 2,052.75 yesterday, up 11% percent this year after rising by 30% in 2013. In addition, the S&P is up a whopping 208% from the low of 666 seen on March 9, 2009, when the nation was gripped in the depths of the Great Recession.

With Thanksgiving quickly approaching next week, motorists are getting ready to take to the roads to visit friends and relatives. Thanksgiving holiday travel volume is expected to reach the highest level since 2007, with 46.3 million Americans taking a trip, reports AAA Motor Club. The 46.3 million is up 4.2% from the 44.4 Americans who traveled last year. Almost 90% of travelers (41.3 million) will celebrate the holiday with a road trip and likely will enjoy the lowest Thanksgiving gas prices in five years. The cost to fuel their cars is currently at $2.83 for a regular gallon of gas, which is 45 cents lower than this time last year. The Thanksgiving holiday travel period is defined as Wednesday, November 26 through Sunday, November 30.