Home buying usually goes into hibernation during the winter months but according to new reports, the market may be shaking off the winter's chill ... especially now that it is FINALLY Spring!
Mortgage activity which often measures both financing and new applications has increased by over 10% over the winter months according to Mortgage Banker's Association. Refinancing activity surged sharply with some lenders seeing the number of applications double, the MBA also said. According to a Federal Housing Finance Agency Report, government mortgage giants Fannie Mae and Freddie Mac refinanced nearly 35,000 loans under the HARP program last Fall which is a jump of more than 20% over August!
These are all good signs for the Real Estate market .... especially for those of you looking to buy or sell a home in Pawleys Island.
If you are looking to buy or would like to sell, please give the Pawleys Gal a call!
Melissa Dunn
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