Any Mortgage Loan Officers out there notice an increase in sales Jan & Feb?

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I’ve had an increase in loans that I`ve submitted this month, as well as last month, compared to the months before! anyone out there agree?

  1. Reply
    Real Estate Guy
    May 1, 2011 at 4:10 am

    Yes! We have sold 23 homes in Jan and Feb. Last year, Sept – Dec we only sold 9.

    And we haven’t even hit the “spring market”. Our buyers are telling us that they feel prices have hit bottom. In addition, resales in our area are selling.

    According to the MRIS, prices have increased 1.5% since the first of the year.

    Plus, they are selling full price. Granted, we (like all other builders) have lowered prices. But we have also cut back on the free specials – like free options, etc.

    Yes, the market has turned.

  2. Reply
    Lisa L
    May 1, 2011 at 4:21 am

    Yes, my business has picked up, however, January was a lot of refi’s of loans closed last spring & summer. Now that rates have gone up again the refi business has dropped but purchase business is coming in.

    Sunshine – the Feds don’t regulate mortgage rates. They regulate the short term money. Sometimes it trickles down to mortgage rates but that was not the case with the last adjustment.

  3. Reply
    May 1, 2011 at 4:23 am

    yes. the fed dropped rates. more to come!!!

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