Could this be the end?
Some economists are speculating that the surge in mortgage applications could signify the bottom of our down market. Could this be the end of our housing slump?
U.S. mortgage applications surged by the largest amount on record last week as a new Federal Reserve program pushed interest rates down to their lowest level in more than 3 years, data from an industry group showed on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended Nov. 28 soared a record 112.1% to 857.7.
With rates this low and prices still down now may be the time to buy a home in Georgia.
Any thoughts??