I really don't need to do more than quote the headlines to give you an idea of what is going on. From the Atlanta Business Chronicle's email update: "EXISTING HOME SALES RISE" AND "REPORT: HOUSING PRICE DECLINES SLOW" Both good news, right? Absolutely! But remember this one as well: "MORTGAGE APPLICATIONS FALL, RATES RISE". Here's the takeaway from all this--the more 'cheerful' news about the economy will (hopefully!) get people off the fence. However, what really needs to happen is to get these people hopping NOW as rates will continue to go up as the markets improve. It's a fact-rates tend to go down when 'bad things' happen so take advantage of what's left of the economic malaise affecting our country. Don't wait for North Korea to rattle their sabres and spook the market-it's time to act now (and my usual caveat applies-rates may go up/down/remain the same, but will your LENDER or program be there when you decide to get a loan? I sure hope so!)
Cheers! Bo
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