If you’re getting ready to purchase or sell a home around Colorado Springs, you’ve probably…
Mortgage Application Volume on the Rise in Colorado Springs
A Positive Sign for the Real Estate Market
The latest report from the Mortgage Bankers Association reveals that mortgage application volume is on the rise in Colorado Springs. This increase is attributed to a 5% rise in refinancing applications and a 2% increase in purchase applications. This is great news for the real estate market in Colorado Springs, as it indicates that more people are looking to buy homes and refinance their existing mortgages.
Refinancing Applications Up by 5%
Low interest rates, which are currently hovering around 3%, are the primary reason for the rise in refinancing applications. Homeowners in Colorado Springs are taking advantage of these favorable rates to refinance their existing mortgages and save money over the life of their loans. If you’re looking to refinance your home loan in Colorado Springs, 719 Lending can help. Our experienced team can guide you through the process and help you find the best rates and terms for your needs.
Purchase Applications Also on the Rise
The increase in purchase applications is a positive sign for the real estate market in Colorado Springs. It suggests that there is a growing demand for homes, which could lead to a more robust housing market in the future. If you’re in the market for a new home in Colorado Springs, 719 Lending can help you get the financing you need. We offer a variety of home loan options to meet your needs and budget.
A Promising Sign for the Real Estate Market
The rise in mortgage application volume is a promising sign for the real estate market in Colorado Springs. While there are still challenges ahead, such as rising home prices and a limited supply of homes for sale, the fact that more people are applying for mortgages is a positive development. This could lead to a more vibrant and sustainable real estate market in Colorado Springs in the years to come.
In conclusion, if you’re looking to buy a home or refinance your existing mortgage in Colorado Springs, now is a great time to do so. With low interest rates and a growing demand for homes, the real estate market in Colorado Springs is on the rise. Contact 719 Lending today to learn more about our home loan options and how we can help you achieve your homeownership goals.