Last week we discussed how the mortgage applications declined based on the current market. This week the applications are on the raise and that is based on the fact the interest rate did not change. I know that a lot of people were in a wait and see mode because the Fed Reserve was meeting regarding the interest rates. Everyone was waiting to see if the rates were going to be raised. This is a direct result of the rate not changing. People are taking action and using this opportunity to get their mortgage applications locked in. What would you do if you were a mortgage broker or lender? Would you call those people that were waiting or see if they take the initiative to attain housing?
