Thursday, June 10, 2021

Mortgage Applications

Mortgage applications dropped by the end of May 2021, so we shall see what impact this means soon.  Here is the article I was reading: https://www.housingwire.com/articles/fewer-people-are-submitting-mortgage-applications/
Basically,  less buyers were wanting to jump into the market. Is it the high prices? Cost of construction and materials? Or because many were vacationing for the 1st time in a long, long time?  I do know several buyers who backed off and stopped looking for now due to rising prices and also being beaten out on one home after another.  But I also see a lot of people enjoying vacations right now, too.
Only time will tell...

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