Fewer Mortgage Loan Applications Reported Last Week in Atlanta Area

Spring is typically the busiest time of the year for the real estate industry in the Atlanta area and across the state of Georgia. Mortgage lenders and brokers in the area, however, reported fewer applications for purchase and refinance loans last week than the week before, continuing a trend exacerbated by rising home prices as well as increasing mortgage interest rates. Mortgage brokers across the state reported fewer new loan applications last week, but an increased interest in Adjustable Rate Mortgages (ARMs), which typically carry lower interest rates than fixed mortgage loans.

 Contact Peachtree Mortgage Services, Inc. at peachtmtg@bellsouth.net or 770.481.0052.


* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.