According to Reuters, applications for Lexington home mortgages increased by 2 percent in mid-September. Applications are at their highest level since last April. There are a couple of factors that triggered this increase.
A drop in interest rates by the Federal Reserve is the primarily reason. With a lower interest rate, even more homeowners are encouraged to refinance. An excess of homes on the market is the second component. Prices are driven down with a surplus of homes.
Copyright
2005 - Real Estate - All Rights Reserved