January increase in mortgage applications.
It seems like in this climate there is so much info that asking about the future of Northwest Arkansas real estate is kinda like asking a magic 8-ball.
“Indications are good”
“Outlook not so good”
“Ask again later”
What I do to try to answer some of these questions a little more effectively than a magic 8-ball is analyze statistics and focus on trends.
Arvest Bank announced that in January they had an increase over last January in mortgage applications. The company had $220 million worth of mortgage applications. This is a good indicator that there will be a strong beginning to 2008 and using that momentum we could have a great 2008.
Now some of those applications are for refinance and home equity lines of credit (HELOC) but the data still shows that the real estate could be trending upward.
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