In spite of higher interest rates, there is no shortage of mortgage activity. When I am setting up appointments for two weeks out, there is no slow down. I am doing no less pre-approvals than I was in March or April. So what does all this mean?
In most markets that I do business, there is strong demand, but not in all. In many areas, it is still a buyer’s market. Many of the Realtors that I work with on a regular basis are extremely busy. A few have 10 or more properties on deposit.
I did three preapprovals this morning alone and more currently than in the last few years. All and all, in spite of higher interest rates, I see a very active real estate market his summer.
What do you see going forward?
