Good news for real estate investors
October 29, 2008 · Print This Article
In a time of economic turmoil, it is always good to hear positive economic real estate investing news. This week, it was announced that mortgage applications are on the rise.
The Mortgage Bankers Association’s seasonally adjusted mortgage applications index, which includes both purchase and refinance loans, increased 16.8 percent to 476.7 in the week ended October 24, reversing the prior week’s 16.6 percent slump to the lowest reading since December 2000.
Demand for U.S. mortgage applications climbed last week from a nearly eight-year low, while borrowing costs dipped, a trade group said on Wednesday.
The trade group’s seasonally adjusted purchase index rose 8.5 percent to 303.1 after falling 10.9 percent the prior week, while its refinancing applications gauge jumped 28.5 percent to 1,489.4 following a 23.5 percent downturn.
Requests for applications to buy homes as well as refinance mortgages increased last week after posting similar declines the previous week.
I wanted to share this positive information with you. This economy will turn around. It will just take time.
Carleton Sheets is an expert real estate investor and the author of the No Down Payment System. Of course, Carleton is an avid real estate investor. However, he is also passionate about teaching others about how to build their real estate investment empire.
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