US market conditions may prompt international mortgage uptake

Mon, 23 Jan 2012
People considering using international mortgages in order to secure a property in the US may be encouraged by the current state of the housing industry in the country.

According to new figures from the National Association of Realtors (NAR), December 2011 witnessed a continuation of the upward trend for existing-home sales.

The findings showed this movement carried on for the third consecutive month, while also standing at a higher level than that recorded 12 months earlier.

It was demonstrated that these purchases increased five per cent to a seasonally adjusted annual rate of 4.61 million in the final month of 2011 when compared with the downwardly revised 4.39 million seen in the previous four-week period.

International mortgage applicants may therefore find the time is right as they try and get their foot on the American property ladder.

Lawrence Yun, chief economist at the NAR - which was founded as the National Association of Real Estate Exchanges in 1908 - said: "Record low mortgage interest rates, job growth and bargain home prices are giving more consumers the confidence they need to enter the market."
 
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