Tuesday, 30 November 2021 | The Latest Buzz for the Appraisal Industry

Demand for Second Homes Bounces Back Following Summer Slowdown

According to a Redfin analysis of mortgage-rate lock data from real estate analytics firm Optimal Blue, demand for second homes was 60% higher in September than it was before the coronavirus pandemic hit.

A mortgage-rate lock is an agreement between a homebuyer and a lender that allows the homebuyer to lock in an interest rate on a mortgage for a certain period of time, offering protection against future interest-rate hikes. Homebuyers must specify whether

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