Monday, December 17, 2007

Santa Barbara County Loan Activity for November

The loan activity in the South County of Santa Barbara fell in November compared with October. The number of non purchase loans was down about 11% to 341. The number of purchase loans was up about 6% to 86. There are certainly some seasonal influences affecting these numbers but these numbers are pretty low compared to earlier in the year. Santa Maria saw the same trend with the number of non purchase transactions being down and the number of purchase loans being up slightly from October. Lompoc wasn't any different. In speaking with lenders there are still some good loan programs out there. The underwriting across the board is certainly more stringent than it has been in many years. This is a good thing. See You In Escrow!

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