Is the mortgage business starting to pick up in san diego?

Question by Martell: Is the mortgage business starting to pick up in san diego?
I’ve been hearing the mortgage industry is showing signs of life…true or not true?

Best answer:

Answer by Robin Hurtado Calif REALTOR
According to Bernake, it is too soon to tell. The market has its regulat “seasonality.” Usually you see Real Estate and Mortgage business pick up in the summer months, and then slow down around the holidays every year. It is said that is because people want to move when the kids are out of school, and that few people want to move around the holidays. Makes sense, right?

So depending on who is telling you and how recently this was, it could be normal seasonality they are talking about. There is also the distressed homes, bad economy, and high unemployment rate affecting the markets as well. Many people are trying to change their loans somehow, whether it is renegotiating with the bank or just refinancing out of a bad loan. There is business to be had out there, that is for sure. Is it picking up? The official work for Bernake is that for the economy altogether, it is too soon to tell….

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