Mortgage Rates and Applications Rise

To continue off last month’s post, How Will Interest Rates Affect Real Estate Investors in 2017?, mortgage rates are continuing to rise.  According to Bankrate.com, as of Thursday, the average 30-year fixed-mortgage went up 9 points over the last week to 4.08%, and the 15-year fixed-mortgage went up 5 points to 3.21%.  According to CNBC, even with the continuous rise in mortgage rates, people are still interested in buying homes.  The number of mortgage applications has rose 4% from last week.  Are you noticing any trends or changes in your area?  If so, what are you seeing and how is it affecting the way you handle your rehab investment business?