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[25 Jun 2011 | 5 Comments | 3,182 views]
Mortgage applications up at the first of June

It appears that low interest rates are bringing prospective buyers back to the real estate market.
In April 2008, the federal government started handing out tax credits to first-time home buyers. That program expanded to include repeat buyers. By the time it ended at the end of April last year, qualified first-time buyers could receive up to $8,000 and repeat buyers could get up to $6,500.
Buyers were initially instructed to get homes under contract before May 1 and close on them prior to July 1. That resulted in a flurry of …