Halfway through each month we look at the recording statistics for the first two weeks of the month and compare them to the same period from the prior year. The numbers this year continue the troubling decline in mortgage activity that we first started to see in August.
In the first two weeks of November 2013 there were 266 deeds recorded, an increase of 8% from the 247 recorded during the first two weeks of November 2012.
During the past two weeks, 389 mortgages were recorded which represents a 43% decline in the number of mortgages recorded for the same time a year ago.
Two declines that are welcome come in foreclosure deeds and orders of notice. Foreclosure deeds fell 54% from 13 in 2012 down to 6 in 2013; Orders of notice also fell 54%, dropping from 28 in 2012 to 13 in 2013.