Despite the slight National Dip in interest rates, loan applications sank by 1.3% last week.  30 year fixed rates dropped to 6.69% from 6.73%.  What does this tell you?  Residential properties better decrease in price.  It’s essentially a buyers market now and will remain that way for some time. Gone are the inflated prices from years past and the real estate agents should see this as a good sign for buying purposes.  There are far too many listings out there, drop the price so people can afford to buy a home again.  Anyway, it’s just my opinion.