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 …
May 20, 2020 Included with this April’s mortgage numbers are two charts incorporating sales disclosure data for the first quarter of 2020. This data was unavailable to me until recently. These charts show that through the first three months of 2020, Monroe County transfers were about the same as in 2019. A quick check of …
March 24, 2019 My, how quickly things can change. As recently as two weeks ago, 2020 was shaping up to be a tremendous year. Now . . . the next few months will be challenging on many levels, both personal and professional, for most of us. Anecdotally, the purchase market is showing signs of a …
February 18, 2020 Through the first five weeks of 2020 our percentage of refinance orders relative to our overall order count is continuing at the same level as it was the second half of last year. Refinances are about 30% of all of our orders. Steady mortgage interest rates over the same seven plus months …
January 24, 2020 Happy New Year! Quick observations from the final 2019 mortgage and deed recordings. • As we all know, the inventory shortage of existing homes is real. Judging from recorded deeds for the last four years (page 7), the Monroe County market seems capped at about 2600 transactions per year. • Look at …
December 18, 2019 At this time of year, I always find myself reflecting on where our company came from, where it is today and where I want to be next year. The one constant in all three places is the value of the relationships we enjoy with our customers. Our clients drive our success. They …
November 22, 2019 The rapid drop in interest rates beginning in late spring is the biggest surprise from 2019. A year ago, most financial gurus were predicting mortgage rates would be pushing 5% about now. I don’t recall anyone predicting then the drop of rates that actually occurred. The lesson is that we might want …
October 24, 2019 Lenders in Monroe County may be as busy now as they’ve been since 2013. Whether looking at the broader market (chart page 7) or a slightly narrower slice of mortgages securing loans in the conforming dollar range (charts pages 9 & 10), the increased volume is clearly shown. The third quarter mortgage …
September 26, 2019 Summer is {{technically}} over. Fall is beginning. And paying the November 10th installment of property taxes is right around the corner. Below is a recap I wrote a few years ago about how closings are prepared at this time of year. As we approach the due date, lenders require that the November …
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 …
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