Affordabilty Issues Lead to Fewer Mortgage Applications; Drop in Home Mortgage Rates May Ease Situation
November mortgage applications for home purchases dropped 11% when compared to a year earlier. Despite the strong economy, potential home buyers continue to face affordability issues as increases in home prices continue to exceed wage growth in Georgia and around the country. Mortgage rates, however, dropped this month to their lowest levels since September, which could encourage more home sales this winter.
Buying a new home in metro Atlanta or anywhere else in Georgia? Refinancing a home mortgage loans? Contact Peachtree Mortgage Servcies, Inc. at 770.481.0052.