Posted on Monday, April 13, 2009
Applications for Santa Barbara home mortgages rose 2 percent in mid-September, according to Reuters. Applications are at their highest level since this past April. There are two factors that triggered this increase.

The first is a drop in interest rates by the Federal Reserve. With a lower interest rate, even more homeowners are urged to refinance. The second component is the excess of homes on the market. A surplus of homes will drive prices down.

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Blue Star Real Estate
Lenny Gerthoffer: Broker/Owner
(805) 884-0040
1029 State Street
Santa Barbara, CA 93101


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