Mortgage Headlines | Time to Sell
Have you seen the headlines?
- June 1, 2020 | Mortgage rates should remain near record lows for June
- May 28, 2020 | Forget About Recessionary Real Estate Bargains: Home Prices Are Still Rising
- May 27, 2020 | Mortgage Demand from Homebuyers shows Unexpectedly Strong and Quick Recovery, as Applications Spike 9% from a Year Ago
- May 26, 2020 | Consumer confidence rises unexpectedly in May as economy reopens
- May 20, 2020 | Weekly Mortgage Applications Point to a Remarkable Recovery in Homebuying
- May 14, 2020 | Mortgage Rates Settle near Historic Lows as the Purchase Market Begins to Pick Up
- May 13, 2020 | Mortgage Applications for Home Purchases Increase
- May 9, 2020 | U.S. Mortgage Rates Hover Close to Record Lows
- May 6, 2020 | Home Purchase Loan Requests Rise for Third Straight Week
Mortgage applications for home purchases continue to rise. According to the Mortgage Bankers Association, they rose 9% last week from the previous week and from a year earlier. This was the sixth straight week of gains and a 54% recovery since early April. Demand for housing which was strong at the start of this year, but pulled back sharply at the beginning of the pandemic, has quickly recovered. Home prices have not lost any steam, and given the lack of supply are unlikely to fall in any meaningful way.
What Does This Mean for You? If you were on the fence about listing your home due to Covid-19, now is the time. With such competitive home prices and a lack of inventory, sellers are experiencing multiple offers. They’re selling for much more, enabling them to take advantage of the low interest rates to move up to a larger home.