Mortgage Applications Up

By dallasrealtor | March 2, 2009

According to data from an industry group (reported by Reuters), though the interest rates were up, the number of U.S. mortgage applications rose in the final week of January.  This is a positive reflection on the demand of home refinancing loans.  It may not be the answer to all of the problems, but at least the desire to buy or refinance is strong.  This may be a positive note to start 2009 off in the right direction, as long as the mortgage rates don’t rise with it.  A rise in interest rates as little as .02% may deter individuals who are contemplating buying.  The American consumer is currently seeking bargains and the mortgage rate may be one of the best ones on the market.  Let us hope for all of you potential buyers that the bargain remains a lucrative one, rather than a deterrent to prosperous future.

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