Lowell Deeds

The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell

January 9, 2007

Mortgage Applications Up

by @ 5:47 pm. Filed under Real Estate

Foreclosures aren’t the only thing rising in the mortgage industry. According to today’s New York Times, mortgage applications are rising, as well. It seems that a combination of falling real estate prices and continued low interest rates have combined to make purchasing a new home more attractive now than it was during the past year. Still, this isn’t exactly a rebound. New federal regulations, for example, require that applicants for adjustable rate mortgages must qualify based on the highest amount they might pay during the life of the mortgage and not just for their first couple of (artificially low) payments. If rules like this had been in place, the newspaper wouldn’t be cluttered by so many foreclosure notices these days.

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