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Interest rate locks were up in January – Tom’s Take 310

The sales data will help you understand what’s going on in the market and the challenge that we have with a lot of the data that gets released is that there are lag indicators, meaning it’s telling you what happened two or three months ago instead of what’s going to happen.
There was a 32% increase in rate locks in the month of January compared to December. Which can happen when there’s an executed agreement of sale, and a mortgage application has been filed.
Seeing a 32% jump in the month of January is important because it shows the market’s moving.
This tells me is there’s still a lot of buyer demand out there.
We’re seeing more buyers out in the market than a lot of people might have anticipated.
There’s going to be competition.
What does this all mean for buyers and sellers? Tune into episode 310 of Tom’s Take now to find out! Have questions or want to dive deeper into your unique buying and/or selling situation? Get in touch! We’re here for you and ready to serve.

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