According to the Mortgage Bankers Association's Weekly Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages was unchanged last week from the week before. Mortgage rates held steady for loans with both conforming and jumbo balances, while 15-year rates increased. Demand for loan applications, on the other hand, was up - rising 2.6 percent from the previous week. The Refinance Index spiked 5 percent – after falling 9 percent a week earlier - and the seasonally adjusted Purchase Index fell 1 percent. The results were adjusted to account for the New Year's Day holiday. Also in the report, the refinance share of total mortgage activity remained at 63 percent from the week before. The Mortgage Bankers Association's Weekly Applications Survey covers more than 75 percent of all U.S. retail residential mortgage applications and has been conducted since 1990.

Sounds like buyers are gearing up again this year to buy or refinance. Here in the Taos and Angel Fire real estate market, we're anticipating another good year in real estate sales. Leads coming in to our office from trulia.com and zillow.com are brisk. We're seeing interest in all kinds of properties: condos, land, casitas, single family homes and more. Hope we see you, too, in 2014 here in Taos and Angel Fire!