Real Estate Journal Online

During the first week of June, mortgage applications took a big bump, increasing 13 percent according to the Mortgage Bankers Association (MBA). And some of those bankers, including mortgage loan originator Sue Drawdy, think this is a sign of positive things to come in the real estate market[1]. Drawdy believes that low interest rates are attracting buyers again as well as homeowners interested in refinancing. “We are now approaching that level where it will be cheaper to buy than rent,” she said.

Unfortunately, mortgage application rates did not remain high but dropped 5.9 percent the following week[2]. However, they are moving upward again now, albeit sluggishly. What do you think these numbers mean for real estate investors and/or conventional buyers?

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Let us know what you think about mortgage application rates and the market in general in the space below.