Nationwide Housing Market Sees Slowdown, not in Northern Virginia

As Coronavirus continues to threaten lives and the economy, the nation saw 30% drop in mortgage applications across the nation.

However, the picture isn’t so gloomy, as many areas such as Northern Virginia continues to see strong movement to sell and buy houses.

Although people are generally limited from much movement, people are regularly purchasing houses in the area. For example, at the local Apple Federal Credit Union, the current response time for mortgage approval is more than a week, even during the shutdown.

Although national and global economic forecasts look gloomy, due to low interest rates, many people will attempt to take advantage of the situation.

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