Positive Trends

Well the news just keeps coming about how bad everything is out there...but don't believe everything you hear.

Across the nation new mortgage applications increased for the first time in more than a month according to the Mortgage Bankers Association. This increase is most likely due to the 30-year fixed rate climbing to 6.27 and then dropping to 5.98. When buyer's saw the rates plummet, they locked in on their purchases.


Number Two: The pending home sales didn't decline last month as previous months...they just stayed flat. This is "maybe" an indication that the sales decline has or is bottoming out.


Number Three: The Federal Reserve is expected to drop the overnight rates another quarter point next week -- and maybe more in the weeks ahead.

Well this sounds good to me! If the rates stay low with the lower prices the buyer's will say..I'm ready...this is for me!

Remember...the only way to know the market has really bottomed out is when it starts to rise, and you don't want to lose that opportunity!