Monthly Mortgage Market Share Archives

March, 2021 Mortgage Market Share Report

April 16, 2021

As we begin the second year of the pandemic, I want to express my gratitude to you. Your patience, understanding and flexibility helps us be successful in this challenging environment. Watching you adapt inspires our own efforts. Your coaching helps us be better. Because of your support, we are learning from this experience and will be even better in the future because of it.

This month, there is not much in the graphs and numbers that we don’t already know. The volume of mortgage originations the last four quarters is remarkable. The purchase market remains strong, the declining inventory of homes for sale notwithstanding. Comparisons to last year will be less enlightening going forward due to pandemic related effects on home buying and modestly rising interest rates.

The Indiana Department of Local Government Finance changed the sales disclosure process at the beginning of the year. As a result, the data used to prepare some of our quarterly graphs about purchase transactions is unavailable. Those charts are not included this month. When that data becomes available, the charts will be updated and included in a later report.

Enjoy the spring!

~ John Bethell

February, 2021 Mortgage Market Share Report

March 11, 2021

Is the refinance boom over? Yes, mortgage rates are higher than a few months ago. Yes, the trend line is heading the wrong direction. My experience over the last forty years includes eight or nine “rates will never be this low again” refinance markets. In each one I can recall that refinance volume continued strong for quite a while after rates hit the bottom of that cycle. Some people will always be late to the party.

I still believe that by the fourth quarter, refinance volume will start to return to pre-pandemic levels, which we thought were pretty strong back then. The refinance boom is not over, but we won’t be quite as busy in 2021.

In February, the Indiana Chamber of Commerce named John Bethell Title as one of the top 125 places to work in the State of Indiana. I am especially proud of our team and they are well deserving of this recognition. Each one of them contributes to making JBT a great place to work. And in turn that makes JBT a great place for each of our clients to work with.

Despite last month’s winter storm, we still managed help over 350 people to buy, sell or refinance their properties. Since the pandemic started, we helped over 6000 people. A number that twelve months ago I would have considered unattainable. I am grateful to all our clients for their patience and support during this time. Today, there appears to be a light at the end of the tunnel. I can’t wait to get there!

Enjoy the spring!

~ John Bethell

January, 2021 Mortgage Market Share Report

February 12, 2021

Mortgage activity continued strong through January. Especially refinancing. The purchase market, by seasonal standards, is also active despite the severe lack of inventory. It is still too early to predict how 2021 will turn out, but one thing we can count on is taxes.

The 2020 pay in 2021 real estate taxes will become official and available in a few weeks. Here’s a link to the State Budget Order for Monroe County. It details the levy for each taxing district in the county.

Monroe County Budget Order.

Once the taxes become official and available, we’ll begin using those amounts for all prorations unless otherwise instructed. When able, we will also pay those taxes at closing. Over the next few months, taxes will be prorated, paid and escrowed in a variety of ways. If you or your clients are unsure or confused about how taxes are being treated in a transaction, your Closer will be happy to assist you.

In January our team helped over 400 people to buy, sell or refinance their properties. An amazingly large number for January. We are grateful to all our clients for the opportunity to help so many people move onto new housing opportunities or improve their financial situation.

~ John Bethell