I saw a CNBC reporter's article today ~ "Watch The Mortgage Apps" ~ that number of such mortgage applications are down recently.

She is talking about our US real estate market ... and not about any particular local or state market. Our real estate markets here in Southern California are primarily local, at our areas, city, county and state levels.

Her argument is that the number of Mortgage Applications in the US is the "real indicator of where this market is going."

Mortgage rates have recently moved up, which she says cause applications to fall.  However, she also recogiznizes that current 5.5% rate on 30 year fixed home loan continues be excellent opportunity. 

That continued low interest rate on home loans seems to me to indicate continued positive sign for the future of real estate markets.

Question is whether mortgage applications are the real indicator for where the real estate market is going. 

 Or are the indicators ... 

• Opportunities for first time homebuyers and tax credits.
• Number of loan modifications now in the pipeline.
• REO homes being sold on monthly basis and during this time.
• Number of homes currently on the market.
• Rate of sale and Market saturation of homes now on the market.
• Foreclosures that continue to come on to the market.
• How long market needs to clear out foreclosures.
• Short listings and when they will be cleared from markets.
• Mortgage applications.
• Capital available to real estate investors.
• Unemployment rates.
• Available funds for home loans.
• International credit markets.
• Mortgage backed securities market.
• US stock market.
• Consumer confidence.
• US economy indicators.
• Attractiveness and value of real estate ownership.

Perhaps the true indicators are a combination of these and others factors to show where the real estate market is going.

____________________ 

Harrison K. Long, Explore Group Properties, Coldwell Banker Previews, Irvine, CA.

www.BuyersExploreHomes.com  ~  www.ExploreTheOC.com