Mortgage Market Share Report January 2019

February 14, 2019

 

As always, the number of January transactions is low making it impossible to draw any conclusions about the health or direction of the market. The Polar Vortex undoubtedly affected the number of new transactions.

Recorded mortgages were down about fourteen percent from a year ago. Deed recordings were down about seven percent. Our own book of business shows a significant increase in the percentage of cash deals when compared to January 2018. This is consistent with what the recording numbers show.

New taxes will be showing up most likely before our next report. We will notify you when the new rates are official.

Last month our title team’s average production time for new Monroe County commitments was 3.8 business days. Our closing team is also doing well. Some internal changes are making the collecting of their data more cumbersome. We’re trying to find a work around. Stay tuned.

I hope that 2019 is off to a great start for you!  Here’s wishing it will be your best year ever, so far!

 

~ John Bethell