Washoe County new home sales, resales, and re-fi recordings for November have been compiled and released by our friends at Ticor Title. Note the big spike in November re-fi’s – up more than 26% from October’s re-fi’s. Did all these borrowers have a premonition of December’s rise in interest rates?
Click on the charts below to enlarge.
skeptical
Nice to see this loan activity info, but I think you need to change the incorrect title.
As for the bump up in refi activity in Nov, lucky folks saved themselves up to 50 basis points by not waiting any longer. Expect refi activity to drop drastically going forward. Such slowing has already been reported on a national basis.
Expect sales to slow a bit as well, as buyers become acclimatized to the higher rates (esp. at this time of the year). That said, I think rates won’t go much higher, and may decline a bit, going forward. Trillions by the Fed will guarantee that in the short term, but as for the longer term, be careful out there.
Merry Christmas to all.
Guy Johnson
skeptical,
Thank you for the heads up on the incorrect title.
– Guy
drive by
In reno for the day for a job interview. What a great town. Love it here. Hopefully, I get the job and I will most definitely buy a house. Views of Mt. Rose are dirt cheap.
Guy Johnson
drive by,
The best of luck with your job interview.
– Guy