Lenders witness the rise in mortgage demand this week

“I think that in recent years have paid off. First of all we became 60% last year,” said Arvielo. “So I think the consolidation of loan shelters is part of it. I think the relocation buyer controls the market, which means that a former first home buyer [who] now has a considerable amount of equity. “

Arvielo says that 74% of the applications submitted to NAF this week were applications.

“I think people are waiting on the sidelines for these large tarief drops that we thought they would happen … but that little interest rate of 6.8%, well, it’s better than the sevens.”

Arvielo imagines that this leads to a vibrant REFI market. “I think the refinancing market will continue to increase because you pay people a high credit card debt. We have more map loan debt than we have had in many, many years. So people use their equity to consolidate,” she said.

Jay Promisco in Florida, president at Sierra Pacific mortgageattributes the applications of applications to the state that experiences a high level of selling price reductions. “It will be a buyer market here, and that has happened a bit since the kind of hurricane action in September,” he said.

Promisco agrees with Arvielo that after three years of interest rates at this level, the consumer finally decided that it is not a bad time to buy now. However, he said that certain regional markets are the figures.

Joseph Panebianco, CEO and President of Anniemac Home MortgageSays that the company has seen an increase of 17% year after year in application activity. The company grows its recruitment and sales efforts between combination.

“We are in a process where the rates have fallen from their high, which is always very useful. I think people realize that what would potentially become a flourishing economy is a kind of muddy, I would say by rates. So to make a long story short, the interest rates are now more possible than they were a year ago,” he said.

Panebianco continued: “The housing market has had more time for the real income to increase … There are still some tight markets, but I think that [we’re] See more inventory than we have seen. Employment in the economy is still very robust; Rumors about the downfall of the American economy have not yet flourished. ‘

Concern about future and first home buyers

Although Arvielo is encouraged by the return of buyers to the market and their confidence in submitting applications, she expressed his concern for the first Thuisbuyers-in particular about how they interpret media attention for the market and manage financial obligations, such as student loans’ debts.

“The first buyer is a bit more affected by inflation than the mover,” she said. “I am a bit worried about what we are going to do with our first home buyers, because we need that market for the long term to continue to build up generation in those who have been on the sidelines … We have also had a number of cuts in the work, so that I don’t feel good.”

Panebianco has a similar sentiment. “You have five or six DS real estate: diapers, diamonds, diplomas, divorce, death. And of course I always say the sixth, which of course occurs more and more often,” he said.

However, Panebianco says that the percentage of the first buyers of Anniemac is up. “We generally see about 25% to 30% of people who are first home buyers. We have received a larger share; we are recently at 48%,” he shared. “I will say that more and more first home buyers double with each other, whether with their important others or their friends. The double incomes, university -oriented people can be much more eligible for a house.”

He continued: “Life happens, not just for their income, their real inflation-corrected incomes, but perhaps they have children, maybe they graduated from the university, you know, maybe they were forced, because of debts to study loans, to make a movement. Maybe there was a movement.”