News is starting to come out about how in the last couple of weeks mortgage applications are starting to come in a bit more frequently. Realty Times is reporting that in the week ending December 2^nd mortgage applications have shown a 12.8% increase while mortgage refinance applications rose 15.3%.  This is a fantastic trend to be getting into as it shows that there is an increased interest in home ownership as well as an increased interest in taking advantage of the historic rates.

In the whole scheme of things what could this mean? Well, when I see even a slight increase in mortgage applications you start to think that perhaps people are coming back around and beginning to think about home ownership as one of this countries great investments.  Perhaps potential buyers are starting to test the waters and see what kind of loans they would qualify for and how much of a loan they could get.  This is good news all around because it not only stirs the pot a little bit in terms of overall interest but also shows that buyers WANT to own rather than simply renting.  I also personally think that having the rise in applications during this time of year can be an even better sign as you know the winter months are usually when a lot of people sit back on their laurels and wait for spring.  To me it means people really want to own and people really want to get out there and see what is available and what they can afford.

With that idea in mind, the saying stays the same.  It really is still a fantastic time to buy.  The rates do go up and down but in terms of where they have been before and where they inevitably will be again you should take advantage as it will not last forever.  If you are already a homeowner then you should think about taking advantage of these rates as well as many have started doing evident with the jump in refinance applications.

Read Article on these recent statistics here

Tim Brown
Owner/Broker, Realtor®, ABR,CRS,CDPE®
Auctioneer NCAL#8560
Hines & Associates Realty
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Direct Line: 704-619-1008
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