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Falling Mortgage Rates Fuel Buying Activity

Posted by Larry & Lori Porter USN Retired on Monday, February 9th, 2015 at 3:31pm.

Mortgage interest rates have fallen back to 2013 levels this week.  Fewer homes are available for sale leading to a slight increase in prices.  With mortgage rates still low buying activity has been increasing.  Mortgage applications for Federal Housing Administration loans spiked last week in the midst of lower FHA mortgage insurance premiums, according to the Mortgage Bankers Association. Both purchase and refinance activity are up, signaling higher demand for housing. 

With rates low and prices still good, now is an excellent  time to look at purchasing a home.  Current homeowners should take a look at their equity gains for the past view years and consider trading up for a better home. 

Warmest Regards, 
Larry Porter, Associate Broker, CRS, GRI, e-Pro, Military Relocation Professional, USN Retired
Lori Porter, ABR, GRI, MRP, HRRA Circle of Excellence Gold Award, HRRA Longevity Award
Office  757-479-3424   Cellular  757-291-3424

The Real Estate Group, LLC
1112-F Eden Way N
Chesapeake, VA 23320

                       

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