Mortgage Applications On The Rise

(Sioux Falls, SD) — Mortgage applications are rising as rates continue to drop. Plains Commerce Mortgage Banker Devin Malmgren says there was a slight drop in home prices when rates peaked around eight percent this October. Now there’s been a recent one-point-five percent drop in rates and many home buyers are moving forward with purchases. Malmgren says we will see improvements in the rate market as inflation continues to cool.

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