Rising Home Mortgage Interest Rates Impact Georgia Lending Volume

Mortgage activity in Georgia declined significantly in May when compared to a year earlier as rising home mortgage interest rates continued to batter the housing industry. Mortgage lenders and brokers have shifted much of their focus to home purchases as the stream of refi home loans continues to slow. Rate and term refinance loan activity in May dropped over 90% when compared to a year earlier, while cash out refi activity dropped over 40% year to year.

Contact Peachtree Mortgage Services, Inc. at peachmtg@bellsouth.net or 770.481.0052 to discuss your mortgage needs and our easy home mortgage loan application process.


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