tag:blogger.com,1999:blog-582614310924437858.post2119392395121560486..comments2023-06-19T05:31:24.719-07:00Comments on Santa Barbara Real Estate: August Loan Activity In Santa BarbaraGreg Knowleshttp://www.blogger.com/profile/00177799066199190037noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-582614310924437858.post-42066627028495892192007-09-17T15:06:00.000-07:002007-09-17T15:06:00.000-07:00It is great to see the numbers for SB County broke...It is great to see the numbers for SB County broken down this way. It is helpful to get a feel for purchase versus REFI volume by the different sub-markets. I was not surprised to see the purchase volume down sharply in the South County due the serious lack of Jumbo product available. The lack of Jumbo product for well-qualified borrowers is a symptom of the overreaction in the mortgage market to the defaults among less credit-worthy borrowers. After weeks of seeing the banks pull Jumbo products, tighten guidelines, or otherwise make the rates a deterrent to the consumer... we are now starting to see some sanity return -- with products slowly being reintroduced. Let's hope A-paper Jumbo product comes back strong and soon... since our higher-end markets are so dependent on it!Anonymousnoreply@blogger.com