Some interesting financial news came out this morning for potential home buyers. Those of you who are not statistically inclined, ignore the linked chart, Ill try to summarize. The Mortgage Bankers Association of American announced that Purchase Applications were down 1.5% from the week before. This is a clear signal that, as summer draws to a close the housing market is seeing a bit of its annual slowdown. Nothing surprising here but, when coupled with the slight increase in interest rates that we have seen so far this week, we have a clear sign that buyers are exiting the market, either because they have already bought or because they have decided to wait. This means OPPORTUNIITY for those of you who are still int he market. Those homes that you see with signs on them, many of which may be falling over because they have been there for a while now, all signify MOTIVATED SELLERs. Combine that with a dearth of Buyers and, supply and demand kicks in and you are in a position to make the deal you want on the home you want. Dont forget to get pre-approved first. Remember, we do a FULL pre-approval so that your offer is the strongest offer. It only takes about 30 minutes of you time and it could be worth thousands of dollars. Contact us today! seekingalpha/news/1963975-mba-mortgage-applications
Posted on: Wed, 03 Sep 2014 14:08:35 +0000
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