Wednesday, August 6, 2008

June Loan Activity

The loan activity in Santa Barbara County in June was less than impressive.
In the Southern part of Santa Barbara the trend for refinances and purchases is still down. Not down significantly from previous months, but down non the less. I would expect the refinancing of property to be a pretty slow grind for a while because of the tightening of credit.
In Santa Maria it is more of the same, but the purchase market seems to be more stable, but the refinance business appears even more difficult. I don't see that changing any time soon.
Lompoc is looks like a carbon copy of Santa Maria with less transactions. The purchase market appears to be stable, but the refinance market is down significantly.

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