Mortgage Applications Experience the Largest Increase Since 2008
At Boardwalk Properties, we are devoted to all things real estate, whether that means buying property, selling property, commercial leasing, investment, and more. Our team is always staying up to date on the latest news and trends in the real estate world so we can best serve our clients. Recently, we discovered a promising piece of news: mortgage applications have risen 49%, making it the largest leap since seven years ago, back in 2008.
As the United States’ economy continues to grow and the job market improves, there are still weak points overseas, which when coupled with the price of oil contribute to the decline of long-term interest rates. Now that mortgage rates have hit their lowest mark since the spring of 2013, refinance applications have truly taken off, more than doubling in amount. Along with the drop in interest rates and increase of jobs in the country, it also appears that credit availability has improved as well. All of these factors converge to explain the sudden jump in mortgage applications these days.
Whether it’s your first time buying property and you’re looking for guidance or you are a seasoned property owner and need assistance finding your next dream apartment, our team is here to help you every step along the way. For more information, simply fill out this contact form and one of our real estate experts will reach out and answer all of your questions in no time. We look forward to showing you why we call ourselves the premier real estate services company in Boston and helping you find the property of your dreams.