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