Central Ohio Real Estate: New Home Loan Applications Up! - Central Ohio Real Estate Blog

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Central Ohio Real Estate: New Home Loan Applications Up!

You would think with the negative press in the media about the national housing picture that all was gloomy and the outlook was bleak, however,as reported by the Realty Time last week, the number of home loan applications has (seasonally adjusted) increased by 7.5% and for the recently expanded program that is FHA, the number of applications has increased by 20%! A staggering figure!

Also, alhough mortgage rates rose ever so slightly this last week they are still at fantastic lows and with the real estate market starting to kick into life – prices have stabilized with further decreases unlikely and some areas recently posting price increases now may be the best time to buy for years.

The economic outlook also is improving with growth expected to be around 2.3% this year based on the figures from the second quarter.

All in all exciting news! If you are looking for a home in the Central Ohio region in one of the communities in and surrounding the Columbus Metro area please contact The Raines Group for professional Real Estate advice in helping you find your dream home in the area.