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aosotsi · Joined: 30 Apr 2008 Posts: 5 2.98 Dollars($)

Hi guys, this was something I came up with when I was bored that I thought you might be interested in:

"http://www.google.com/trends?q=mortgage"

Look at that! There is definitely a pattern in the search volume (why in the middle of the year does it drop then suddenly pick up? hmmm interesting) and possibly the number of mortgages being given out.

Well I found it interesting. What do you guys think?

Link deactivated as per the forum rules.

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi aosotsi,

As far as the last year is concern I think the credit crunch caused the down fall of the mortgage industry. So many Americans Faced foreclosure or sold out their property to pay the lenders off. So the borrowers were afraid to go for mortgage.

BTW I would love have your view on that and sure other mortgage professionals will respond to this topic

Best of luck,
Larry

Caron

Well this is a great topic to start off Aosotsi. What I feel is, mortgage applications do go up with the increase in the number of first time buyers especially during the beginning of the year. That's because there are many having a new year resolution to buy a home of their own. Moreover, lenders do offer special discounts after the Christmas gets over. Then there are tax issues involved. One who's willing to itemize can get tax deduction on their mortgage interest.

There are many who intend to build a home rather than buy. Again this is a resolution that they like to fulfil. Moreover, one who has taken out debts in Christmas time often goes for a second mortgage during January-February in order to consolidate the debts. And for one who has maxed out credit cards and spent a lot in celebrating the christmas and new year, refinancing his current mortgage would be an obvious idea because he'd like to lower his payments on the home loan.

The beginning of the year is the time people think of investing their money somewhere, be it a mortgage or any other investment option. But middle of the year is again a time where they don't like to invest as they already have to pay for their home loans and other debts.

Hope I could explain it to some extent.

let me know what you think.

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A correlation between mortgages and seasons