Residential Mortgage Application Volume has Decreased
Recent months have seen a reduction in residential mortgage applications. There are varying speculations as to the reasons for this decline in applications:
- Waiting for Rates to Reduce Further
- Concerns over the Future of Economy
- Pandemic Resurgence Causing Hesitation
Residential Construction Improves
According to industry reports September and October reflected an improving residential construction industry, with an expectation that the trend will continue through year-end.