Reuters delivers some more good economy news. They report that mortgage applications were up last week fueled by record low interest rates. The majority of the applications were for refinancing.
"The housing market is coming back, but not roaring back," (Leif Thomsen, chief executive of Mortgage Master in Walpole, Massachusetts) said. "We have gone from a crawl to a brisk walk and we will still have to navigate some pitfalls before we are able to get running again."
It’s not that super good, we’re out of the woods news that we’re waiting for. However, this fits right along with the housing starts story from a couple of weeks ago. Both are small steps in the right direction.
Be patient people. There is hope and signs show that things are turning around, albeit slowly.