Source: USA Today , Mortgage Master, Inc
According to USA Today there is more good news from the housing market! "Mortgage applications jumped last week as record low interest rates spurred a surge in demand for home refinancing, according to figures from the Mortgage Bankers Association."
This is the kind of ground swell that the housing market has been needing, and the market is certainly getting plenty of help. The cost of money or loans is at absolute record lows. In addition the devaluing of neighborhoods has brought homes across the board affordable to a larger group of potential buyers. Buyers are getting maximum bang for their buck.
Are you a potential buyer? Now is the time to find out! This market will not last forever. Hopefully it lasts until summer or fall, but interest rates will go up, thus increasing the cost to borrow.
First, you need to know your credit score YourCreditCompany.com can help click here. Next, you will need a mortgage lender, again YourCreditCompany.com can help click here. Maybe you need some credit rehab help, don't worry we can help click here.
Best of luck! Don't for get to look into the First Time Home Buyer Tax Credit! The market turns as more of us get involved in it.
Matt Kemper
YourCreditCompany.com
Showing posts with label mortgage applications. Show all posts
Showing posts with label mortgage applications. Show all posts
Wednesday, March 25, 2009
Friday, March 13, 2009
Find The Good News
TGIF!
In the spirit of ending the week, that has seen some good news in the economy, on a good note I wanted to highlight some good news in the Housing Market.
According to the Mortgage Bankers Association mortgage applications continued a string of weekly increases. The press release states that mortgage applications for the week of March 11, 2009 increased 11.6% from the previous week (ending March 6, 2009) and a 5.7% increase from the same week a year earlier.
Yes, many news articles this week are leading with last month's foreclosure numbers increasing 6%. However, interest rates are at an amazingly low 5.02% and with more and more people applying for loans this leads to the strong possibility of more action in the housing market.
In my previous position with a local home builder we watched these numbers closely. Movement in the housing market was very important to us (even when it was not us selling a home). We would be highly encouraged by people buying homes because that meant people who sold their home potentially would be buying another home, thus creating a domino effect.
Reduction in housing inventory is important to getting our economy back on track. The housing industry affects a myriad of business (many of them small business) from contractors and their sales/marketing and support staffs to installers to suppliers, to manufactures. We may still have to endure for awhile longer, but positive numbers should offer some encouragement and a reason to lift our collective chin.
Matt Kemper
YourCreditCompany.com
To apply for a mortgage or get more information on mortgages visit us today!
In the spirit of ending the week, that has seen some good news in the economy, on a good note I wanted to highlight some good news in the Housing Market.
According to the Mortgage Bankers Association mortgage applications continued a string of weekly increases. The press release states that mortgage applications for the week of March 11, 2009 increased 11.6% from the previous week (ending March 6, 2009) and a 5.7% increase from the same week a year earlier.
Yes, many news articles this week are leading with last month's foreclosure numbers increasing 6%. However, interest rates are at an amazingly low 5.02% and with more and more people applying for loans this leads to the strong possibility of more action in the housing market.
In my previous position with a local home builder we watched these numbers closely. Movement in the housing market was very important to us (even when it was not us selling a home). We would be highly encouraged by people buying homes because that meant people who sold their home potentially would be buying another home, thus creating a domino effect.
Reduction in housing inventory is important to getting our economy back on track. The housing industry affects a myriad of business (many of them small business) from contractors and their sales/marketing and support staffs to installers to suppliers, to manufactures. We may still have to endure for awhile longer, but positive numbers should offer some encouragement and a reason to lift our collective chin.
Matt Kemper
YourCreditCompany.com
To apply for a mortgage or get more information on mortgages visit us today!
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