The amount of applications filed for residential mortgages in the United States has dropped again. This could be a direct result of the discussions that the Fed is having in regards to buying billions of dollars in mortgage-backed securities in order to lower the mortgage interest rates again. It could be that investors are holding out for the market to hit bottom before they start investing again.
If this is indeed what is holding borrowers back from purchasing mortgages, maybe we will soon begin to see some positive change in the real estate market after the plan to lower the mortgage rates is set into place. But as of now, any positive change will be welcome with open arms!
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