Mortgage Rates Fall Lowest Since October

Mortgage Rates Fall Lowest Since October

However, I learned that lower mortgage rates have not done much for the housing market. Applications for home mortgages are about 10% behind the pace of a year ago, (according to Mortgage Bankers Association).  The rest of the article cites a few reasons, one being home sales have been hurt by a lack of inventory.  I know this has been my experience in the Triangle area.  Also, I am happy to report, lending rules continue to be very strict.  

To read more on this subject by CNN reporter Les Christie, go to:

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Phone: 919-830-5233
Dated: June 4th 2014
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