Well some people are still buying property so that's a good thing! Mortgage applications are on the rise and hopefully that will lead to more approvals! It has been a tough few months that's for sure...many things are changing and many more changes are to come. Stay tuned to www.InvestSmarter.com and the forum section to stay on top of the latest news and to help others stay on top of what's going on in today's Real Estate Market. The Destin Florida Home market has been an interesting one that's for sure!
We have seen pretty decent growth and some fabulous trends of late. Prices are down to a normal rate and we have begun publishing other information about Real Estate in Destin Florida online so please take some time to look at it today.
Mortgage Applications Rise
Mortgage applications rose 7.5 percent from 477.5 the previous week to 513.4 last week, the highest level in more than a month, according to the Mortgage Banker Association’s weekly survey.The numbers are adjusted to account for the July 4th holiday. On an unadjusted basis, the index decreased 14.1 percent compared to the previous week and was down 18.1 percent compared with the same week a year ago.Despite rising interest rates, the refinance share of mortgage activity rose 8.7 percent, while the purchase index increased 6.7 percent.
30-year fixed-rate mortgages increased to 6.43 percent from 6.33 percent;
15-year fixed-rate mortgages increased to 5.94 percent from 5.90 percent;
1-year ARMs increased to 7.24 percent from 7.14 percent.
Source: Mortgage Bankers Association (07/09/2008)
More and more we are seeing the minium monthly payment thoughts and this just comes back into play here. So when looking online at www.Destin-Florida-MLS.com make sure that you are looking to see what's available and use our investment calculators to dig deeper into your overall costs.
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