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Clovis Real Estate News

June 26th, 2009

Rates Change Little This Week (June 26th, 2009)

Mortgage rates inched up again to week. The average for a 30 year fixed rate mortgage this week is 5.51% up from 5.43% last week. Rates have continued to rise over the past several weeks but are still at near historical lows.

Mortgage Rates

Applications Are Up

Loan applications for mortgages increased last week for the first time in over a month. Applications had been steadily declining since mid April. However, it’s the high season for buying and selling homes so this isn’t a surprise, especially with the recent spike in interest rates and people realizing that it’s a good time to get into a home or buy investment property.

Mortgage application are by no means the only telling factor in the status of the housing marketing, but it is a good sign (for sellers) when applications are up. If you’re thinking about buying or selling a Clovis home, keep an eye on the number of mortgage applications. If they keep rising, it means more people are coming into the marketplace to buy a home in the near future. That can be good, depending on whether your a Clovis buyer or seller.

Looking for more information about mortgages? We know several very good lenders who can help answer all of your loan questions and walk you through the loan process. Let us know if we can help put you in touch with a good loan officer.

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This entry was posted on Friday, June 26th, 2009 at 8:53 AM and is filed under Buyer Info. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.