The mortgage lending rate in Shelby County is rising, according to reports by the National Association of Realtors. At April’s Memphis Area Association of Realtors 2013 Residential Real Estate Summit, it was announced that the local real estate economy is picking up and that better days are ahead for the industry. Banks and other lenders made a 2 percent rise in loans from the first quarter of 2012 in terms of new mortgages alone, not factoring in refinances.

The Memphis area movers have found some additional data that shows the strengthening status of the region’s real estate. The monetary amount of mortgages lent are on average 10.9 percent higher than the same time in 2012 and a 13 percent higher in volume. Thus far, total sales are up 7.1 percent over 2012 and the positive data is predicted to continue throughout the duration of the year.