Thursday, June 10, 2010

Mortgage Application Decline

It’s no question that as of late, the housing market has been struggling. People are still experiencing the repercussions of a suffering economy when it comes to jobs and financing so it’s no wonder that last week signified the lowest housing mortgage application rate seen in nearly 13 years! Total applications for purchase loans and refinancing dropped 12.2 percent. Maybe people are apprehensive, considering Seattle is facing a higher number of foreclosures this year compared to last. Even with great credit, homeowners are met with the inability to handle payments because of the economy. Hopefully, things will start taking a turn for the better.


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