March 2011 recording figures showed an increase in the numbers of both mortgages and deeds recorded. We are slowly coming out of the winter doldrums that annually affect the housing market. While there hasn’t been a spark igniting a boost in sales like last year’s federal stimulus program for first time home buyers, our traditional seasonal response to better weather ahead looks somewhat promising.
Mortgages, specifically refinances, continue to move forward despite increases in mortgage rates. There are still a lot of people in Plymouth County benefiting from current rates. For the first quarter of 2011, we have seen a 16% rise in the number of mortgages recorded as compared to the first quarter of 2010.
The whole question of what is happening with national lenders and the processing of mortgage defaults remains a primary concern. We saw increases in both foreclosure deeds and foreclosure notices in March. The impact of that very serious continuing problem on the spring real estate market remains an open question.
Go to our full March Register’s Report for further details and a community by community report on foreclosure deeds and notices.