July 27, 2012
Surprising and not-so surprising revelations from the Bloomington mortgage finance and real estate markets after the first six months of 2012.
- Despite mortgage interest rates being about two percent lower in 2012 than in 2009, mortgage volume was actually higher back then. (see charts pages 8, 9, 12 & 13)
- Second quarter volume of mortgages under $50,000 increased dramatically. Are HELOC?s coming due and just being renewed or is there some fundamental improvement in this segment? (see charts pages 10 & 11)
- The sale market hopefully has bottomed, but signs that it?s improving in a big way are still hard to find. (see charts pages 14, 15 & 16)
- The modest improvement in the sale market seems to be limited to non-owner occupied properties. (see charts pages 15 & 16)
- The number of new foreclosures filed in Monroe County trended upward during the first half of 2012 after several years of modest decline. (see chart page 16)
I?d want to express many thanks to our friends and associates who support us each and every?day! No chart could possibly reflect the gratitude that all of us at John Bethell Title feel. The?confidence that you display in our abilities to help you is awesome! Have a great second half!