By Tony Stevenson:
According to the Freddie Mac survey of mortgage rates, rates remained flat for the week at an average of 4.95% while last year it was 4.98%. This is the lowest rates have been for all of 2010 and all other reports indicate these represent new record lows for the past 25 years.
Nationally, mortgage applications are down. However, my loan originations have increased in recent days and I also expect it to continue to increase. The Realtors I have talked with have said they have seen a definite increase in Real Estate activity. Why? Our job market is strong, our Real Estate market is great, low Mortgage rates still prevail, and folks wanting to move here have made us their clear choice to call “home” and all for good reasons!
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