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Apr 24

Conventional Loan Apps Jump Up

For the past couple of years my FHA loan applications have outnumbered conventional loan apps two or three to one.  This month they are equal, a big jump forward on the conventional side. 

All of the Realtors that refer their clients to me are much busier than last month and last month was very good.  Interest rates are just a little above the level they were in January, still very low.  If the demand continues to increase there will be upward pressure on rates.  It is a good time to move before the rates move.

I was in La Grange this afternoon, saw several new homes going up.  Good to see some new construction.  I have had more calls about end loans for new construction this month than the entire previous year combined.  Still not back to the levels long ago, but a definite improvement.

  

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