Thursday, December 02, 2010

November recording statistics

The positive trends in recording statistics continued in November. The number of foreclosure deeds recorded declined 50% and orders of notice dropped 61% when compared to November 2009. For those same two months, the number of mortgages recorded increased by 43%, a sure sign that a refinancing boomlet is underway, although it's centered in the towns of the district and has largely bypassed the city of Lowell. The number of deeds recorded is down 15% which is not good news but it's understandable. Ever since the expiration of the Federal home buyer tax credit, things have slowed and, if homeowners believe a recovery in values is underway, however slight, they will be more willing to defer placing homes on the market until that market strengthens a bit more.

No comments: