Sorry for the brief absence from blogging. I'll try to be more consistent in the coming days.
February is always a slow month for recording activity, but this February was worse than usual. The total number of documents recorded was down 38% from last February (5473 in 2013 vs 3382 in 2014). Mortgages showed the biggest drop, plunging 60% from 1231 in 2013 to 493 in 2014. Deeds slid too but not as much. They dropped just 14%, from 451 in 2013 to 390 in 2014. Foreclosure deeds were up slightly but not enough to be concerned (15 in Feb 2013 vs 17 in Feb 2014) but orders of notice were down 22% (32 in 2013 to 25 in 2014).
The slowdown in mortgages began back in September and has persisted into the new year. Unfortunately, there are no signs that this trend will turn around soon.