Today Bob Walters was quoted in an article by Julie Haviv, “Mortgage Applications Rise in First Week of 2010”, which was featured on Reuters, ABC News, Washington Post, MSN, and Yahoo. The article discusses the rise in mortgage applications due to the demand for refinancing while the interest rates are low. Here is what Bob had to say:
“What makes the (applications) increase interesting is that nothing exceptional occurred to prompt people to return to the market,” said Bob Walters, chief economist at Quicken Loans in Livonia, Michigan.
“In fact, this may be indicative of the ebb and flow we can expect to see as the market continues to try and find its footing,” he said.
Read the rest of the article to find out more about the rise of mortgage applications.
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