Mortgage Trends & Lending Analysis
There were 461 residential loans filed at the time of sale in February, up 2% from last year.
The average mortgage amount was up 6% to $168,875 with an average sales price of $193,969 making the average loan to value ratio 87%.
Collierville (38017) had the most loans recorded at the time of sale with 53 loans total averaging $334,384.
306 loans filed were conventional fixed rate, 104 were FHA fixed rate, 18 were VA fixed rate and 5 were short term loans, loans due within one year.
The top lenders in February based on the total number of residential loans filed at the time of sale were Magna Bank with 30 loans, IberiaBank with 28 loans and Community Mortgage with 27 loans.
Comments(0)