Northern Virginia and DC metro are witnessing a robust and growing FHA and VA mortgage origination market. The chart below shows continuous growth in FHA and VA mortgage originations in the DC and Northern Virginia division of the Washington Metro area. Each month experienced an increase in mortgage originations over the same month in the prior year. Perhaps this snow storm will result in a backlog at closing offices and court recordings.
Click on Image for Larger View and More Statistics
Other Note (not very related):
While we dig out of from the snow storm in Northern Virginia, there are not going to be many mortgage closings today. Court houses are closed. People cannot get to their settlement offices. Would a mortgage lender fail to extend a closing deadline by a few days on account of snow?. Anyone who knows of a loan deal to fail because of this storm, let us know about it in a reply post.
8 comments:
This is a very interesting post. It’s becoming a trend nowadays even in real estate. Thanks for this.
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Has anyone done a short sale in Real estate? Let me know what the lenders are looking for. Anyway thanks for this great post.
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