2011 Experienced an all time low for mortgage rates, but what should we expect to see in 2012?
According to industry experts and analyst we should see a very similar pattern for rates. In Boulder County we are seeing extremely strong activity starting this year, but the country as a whole still has pockets of instability in the housing market. Unemployment is also still high, which is also keeping folks on the sidelines.
The home lending industry totaled $1.3 Trillion dollars in 2010 as compared to $3.3 trillion in 2005 at the peak, a fall of over 60%. The $1.3 Trillion also had more to do with refinancing than it did with home purchases. In December 4 in 5 mortgage applications were for refinances.
Experts are expecting much of the same for…