Mortgage Market Share Report – 2011 Year In Review

Hidden and not so hidden trends, conclusions and questions from the 2011 full year mortgage and deed recording data:

  • Lenders with a local presence and local employees continue to dominate our market. Take that dot com lender! Page 4.
  • Indiana University Credit Union and German American were the most active residential and business lenders, respectively. Page 3.
  • Record low mortgage interest rates resulted in the smallest number of recorded mortgages between $50 and $500 in the last seven years (and probably since the mid-1990’s). Something else must be holding back the market, Mr. & Ms. Regulator. Chart Page 14.
  • The number of recorded deeds representing a transaction was almost identical to 2010. Does this indicate a market bottom? Chart Page 14.
  • Possibly. But the number of sales disclosures marked as the Buyer’s Primary Residence was down considerably. Again despite record low mortgage interest rates. Chart Page 16.
  • Sales NOT marked as the Buyer’s Primary Residence increased last year. Indicative of more investor activity? Chart Page 17.
  • Foreclosures continue to decline. Good for our community and for housing price stability. Charts Pages 18 and 19.

And on the national front it seems to me that positive stories about real estate are out numbering the negative stories by as wide a margin as I can remember in the last five years. Let’s hope these are self fulfilling prophecies!

Have a great and successful 2012!

~John Bethell