Tuesday, August 10, 2004

A comparison of some document recording statistics from July 2003 with those from July 2004 shows the drastic decrease in the volume of recordings and helps explain why the registry is so deserted these days. The total number of documents recorded in July 2003 was 2983; in July 2004 there were only 1671, a 56% decrease. The number of mortgages recorded dropped proportionately, from 1010 in 2003 to 514 in 2004. But the number of deeds remained the same statistically. In 2003, 134 deeds were recorded while this past month, 140 went on record. What does this all mean? Housing sales remain strong, a condition that should continue so long as interest rates remain low. On the other hand, the days of refinancing a couple of times each year are long gone.

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