Nov. 20, 2008 - A Glimmer Of Hope

A colleague forwarded this short article to me this evening and I wanted to share it.  Although the news is concentrating on the declining stock market and auto industry, the real estate markets have been showing some encouraging numbers lately.

• New mortgage applications increased 12% last week
• Applications for FHA loans were up 15.3% last week
• The fixed rate on a 30 year mortgage dropped from 6.5% to 6.24% last week
• Pending home sales have been stronger that last year for two straight months

If you get a chance give the article a quick read:

http://realtytimes.com/rtpages/20081118_realestateoutlook.htm