March 11, 2021 Is the refinance boom over? Yes, mortgage rates are higher than a few months ago. Yes, the trend line is heading the wrong direction. My experience over the last forty years includes eight or nine “rates will never be this low again” refinance markets. In each one I can recall that refinance …
February 12, 2021 Mortgage activity continued strong through January. Especially refinancing. The purchase market, by seasonal standards, is also active despite the severe lack of inventory. It is still too early to predict how 2021 will turn out, but one thing we can count on is taxes. The 2020 pay in 2021 real estate taxes …
January 22, 2021 What a crazy year we experienced! New mortgage recordings hit a high not seen since 2004 and 2005 when new construction boomed and anyone that could fog a mirror qualified for a no down payment sub-prime mortgage. The effect of rising home prices is clearly evident by the steady increase in average …
November 20, 2020 The challenges of 2020 make me more thankful than ever for the small, normal moments of our lives that in every other year pass without much notice. Sitting in my office, watching friends come in for closings, engaging them in conversation, hugs and handshakes. Just a minute or a few. Connecting. Email, …
October 16, 2020 Recorded mortgages during the third quarter continued at an amazingly strong pace. Fannie Mae recently predicted that by the end of the year, 2020 will be the best year on record for mortgage originations. Our local market shows the same signs. (chart pages 9 & 10) The average Monroe County loan volume …
September 21, 2020 The Monroe County purchase market not only continued its recovery from the pandemic induced lows of May and June. In fact, the market appears to be making up for lost time. This is evidenced by the fact that sales in August, as measured by recorded deeds, showed an 11% percent gain over …
August 24, 2020 How impactful is the current refinance market in Monroe County? On page four of this month’s report you’ll see that 3541 is the total number of mortgages recorded through July 31st of this year. That number on July 31st of last year: 2557. Almost 1000 more mortgage recordings in 2020 so far. …
July 22. 2020 I’m currently taking time away from the business and will return in early August. I’ll resume my commentary next month. Be Smart. Be Safe ~ John Bethell
June 17, 2020 Mortgage transactions for the first five months of 2020 are up a whopping 62% over 2019 totals (1860 vs 1149 for mortgages securing loans between $75K & $510K). The refinancing increase is partially offset by the decline in purchase originations that showed up considerably in May. I included a simple chart at …
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