January, 2020 Mortgage Market Share Report

February 18, 2020

Through the first five weeks of 2020 our percentage of refinance orders relative to our overall order count is continuing at the same level as it was the second half of last year. Refinances are about 30% of all of our orders. Steady mortgage interest rates over the same seven plus months clearly is the reason why.

If your client asked what rates will do later this year, how do you answer that question? Here’s two links to check out.

http://www.mortgagenewsdaily.com/consumer_rates/

The above link to Mortgage News Daily lists a variety of articles that can be used to support just about any answer that you want to give. How convenient!

If you want to take a contrarian, but bullish position, check out this link from Housing Wire.

UBS: Fed may cut rate three times in 2020

The one thing we do know for sure is that right now there’s an opportunity. We can all get a good start in 2020 and make this our best year ever, so far!

In January we helped 283 people buy, sell or refinance their properties. Our title team produced new commitments in an average of 4.9 days. Our closing team provided seller side closing statements two or more days prior to closing in 96% of our transactions.

After January, recorded purchase transactions (deeds) are over 20% stronger than last year. Of course, small sample size caveats are in order. I’ll be watching this comparison closely in the coming weeks!

~ John Bethell