We all know that prices of homes are decreasing all over the country.  Major markets like Las Vegas, Nevada and Phoenix, Arizona are seeing huge price drops.  And even smaller markets like our own neighborhoods here in southeast Idaho are seeing the price declines.  Why? Three reasons.  First and most obvious, the prices of homes…

According to the Mortgage Bankers Association, total mortgage applications for last week hit a 25 year low.  High Interest rates, high prices, inflation concerns, lower consumer confidence all played a part in fewer people applying for home loans.  Also adding to the low number was the hurricane in Florida.  Obviously fewer people in Florida are…

A statement from Joel Kan, the Mortgage Banker’s Association Associate Vice President of Economic and Industry Forecasting: “Applications for both purchase and refinances declined last week as mortgage interest rates continued to increase to multi-year highs following more aggressive policy measures from the Federal Reserve to bring down inflation.  Additionally, ongoing uncertainty about the impact…