Mid-Year Update on Real Estate

Buyers and Homeowners are slowly diving in the Real Estate market during to slightly lower mortgage rates since last year. When mortgage rates drop, home Buyers take notice - and act fast! But with a recent uptick in rates, will the momentum last? Even slight changes in mortgage rates are having a noticeable impact on the housing market this summer. During the week ending July 4th, home Buyers jumped at the opportunity to lock in the lower rates in three months, leading to a 9% week-to-week increase in mortgage applications.