The mortgage numbers kept the Plymouth County Registry of Deeds busy in November.
“Every month I expect to see a drop off in the mortgage numbers, and instead every month the numbers remain high,” said Registrar John R. Buckley, Jr. “November mortgages, although 2 percent less than last month, nevertheless came in at the third highest total number of mortgages recorded this year.”
Buckley added, “The 3,161 mortgages recorded in November trailed only September and October.”
Plymouth County has recorded 30,577 mortgages through November 2020, a 46 percent increase over the 20,925 mortgages recorded a year ago at this time. Homeowners are continuing to lower their mortgage payments.
While the number of mortgage filings continue at a high rate, real estate sales have also kept us busy at the registry. Even with the obvious coronavirus limitations, Plymouth County recorded 957 deeds in November, 9 percent higher than the 877 deeds recorded during November 2019. Overall, Plymouth County has recorded 9,537 deeds through the first 11 months of the year. During the same coronavirus-free period last year, the registry recorded almost the same amount of sales, 9,570. Buckley noted, “Normally we see a slow-down in activity during the holiday season, but of course this year is anything but normal.”
Notwithstanding the ending of the foreclosure moratorium in October, foreclosure activity remains quiet. Plymouth County recorded 5 foreclosure deeds, compared to 11 foreclosures deeds recorded last month. Through November, Plymouth County recorded 157 foreclosure deeds, representing a 47 percent decrease from the 294 foreclosure deeds that were recorded through this time last year.
Plymouth County recorded six notices initiating a new potential foreclosure in November, bringing the total for the year to 226. Last year at this time 662 notices had been recorded. This represents a 66 percent decrease, largely attributable to the recently concluded moratorium. Buckley believes with the lifting of the moratorium, it is only a matter of time when the foreclosure numbers go up.