Mortgage Applications Soar 4.5%

The below article probably explains the increased traffic of potential home buyers searching for homes on my website, www.NEAhomes.com.  I am literally receiving emails and/or phone call inquiries EVERY SINGLE DAY for the past week.  In all my years of real estate, I personally have not seen so much activity the first part of the year as I have in 2012.  Is this an indication of 2012?  Maybe!  I do know the record low interest rates have gotten peoples attention and many are taking advantage of it.  What I'm hearing a lot from these buyers are they have been wanting/needing to move up to a larger home and now they feel it's possible due to low interest rates.  I also have been picking up several first time home buyers for the same reason, low interest rates.  It seems people who have been sitting on the fence on purchasing a home are now getting off that fence and acting on their wants and desires.  I think it's a smart move!!!  These record low interest rates WILL NOT last forever.  If you're thinking of selling, NOW would be a good time to give me a call, so I can place your home in front of all these potential buyers that are actively searching for their dream home.  YOUR home could be the home of their dreams!   Call me anytime on my cell at 870-219-0652.

Mortgage Applications Soar 4.5%
Daily Real Estate News | Wednesday, January 11, 2012

Mortgage applications for purchase -- a gauge of future home buying -- increased 8.1 percent last week, the Mortgage Bankers Association reports. The purchase index on an unadjusted basis now stands at 41.9 percent higher than last year, signaling more people taking out loans to buy homes.
More home owners are also taking advantage of low interest rates. Refinance activity last week also increased, inching up 3.3 percent from a week earlier. Overall, mortgage applications were up 4.5 percent last week.
For the fifth consecutive week, 30-year fixed-rate mortgages have averaged at historical lows below 4 percent, Freddie Mac reported last week. For the week ending Jan. 5, 30-year fixed-rate mortgages averaged 3.91 percent, with an average 0.8 point, matching the previous record low set a few weeks ago.

Source: “Mortgage Applications Rise 4.5%,” HousingWire (Jan. 11, 2012)