Friday, January 02, 2004

Mortgages and mortgage discharges, the two document types most closely connected to home refinancing, account for 60% of all documents recorded at the registry. When refinancing declines, our document totals decline, too. Even though more documents were recorded in 2003 than in any prior year, the collapse of the refinancing market can be traced by the decline in the number of documents recorded per day during the last six months of the year:
July - 700 per day
Aug - 640 per day
Sep - 586 per day
Oct - 534 per day
Nov - 480 per day
Dec - 370 per day

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