July 2019 Mortgage Market Share Report

August 9, 2019

Refinance orders continue to be a rising percentage of our own book of business. And with interest rates seemingly more likely to fall than rise in the short term, I won’t be surprised if this trend continues. Now is certainly a time to be paying attention to rates so that you will provide your clients with the best advice. It’s also an opportunity to do a few more loans this time of year than in recent past years.

Sales transactions were identical in July and June at 272 each month. Through the end of July the sale market is off about four percent at 1523 transaction this year compared to 1587 transactions the first seven months of 2018. I will be watching that difference the next few months to see if the market regains some of its positive momentum.

I’m proud of our team. In July we helped 487 people buy, sell or refinance their homes. For the year we’ve helped 2884 people with their transactions. Our Closing Team provided seller side closing statements an average of 3.5 days prior to closing. Even with an increasing number of last minute closings, they still provide the seller side statement two or more days prior to closing in 84% of our transactions. Our Title Team issued commitments within five days for 90% of our transactions and averaged a four day turnaround time.

Enjoy the remaining summer!

~ John Bethell