Usually when I arrive in the office around 7:00am Mountain Standard Time, I go over the morning newsletters that I receive from MReport, National Mortgage News, MBANewsLink, MortgageSpeak and MortgageOrb. This morning all of them featured some type of article or announcement about the rise in mortgage applications for April.
According to MBA NewsLink CoreLogic’s April Home Price Index showed a year-over-year increase of 1.1 percent, the second consecutive year-over-year increase this year and the first time two consecutive increases have occurred since June 2010.
This is definitely encouraging news for all of us who have experienced the last several years in this industry, but are we getting our hopes and spirits up too much? May this just be a coincidence? Hopefully not, but let me know your thoughts, are we getting too excited?
Another question I want to ask is what type of homes are mostly being sold- new homes, short sales, foreclosures? Leave a comment and let me know your thoughts