This is a YouTube video titled "Mortgage Applications are Up! ⬆️ #homeloans #motivation #realestate #firsttimehomebuyer" created in February 2024. The content is a monologue or presentation by a single speaker discussing recent trends in mortgage rates and homebuyer activity, emphasizing the increasing competition in the housing market and advising potential buyers to act soon.
If you're looking to purchase the home in the next couple years, that window of opportunity is really closing in. So just as we predicted, as mortgage rates drop, home buyers are going to pick back up. Mortgage rates dropped each the last nine weeks of 2023. And then just last week we gained 8% more purchase applications for mortgages across the country. Two weeks ago we gained 9% more mortgage applications across the country. So right now we're on pace of 8 to 9%. More buyers, more competition every single week. So even if you're just going to wait a couple months till the springtime, think about how much busier that's going to be to purchase your new home. When there's more players on the playing field, competition picks up. You have to outbid people to get your dream home. So to help you get the best deal on your new home, reach out so we can help navigate you through this heating up housing market.
