Home purchase and refinance activity is up 10 percent in Colorado during the first half of the year, according to a report released Monday by the Colorado Division of Housing.
According to the report, public trustees in Colorado released a total of 138,859 deeds of trust during the first half of the year, compared to 126,903 during the same period last year.
Typically, a release of a deed of trust occurs when a real estate loan is paid off whether through refinance, sale of property, or because the owner has made the final payment on the loan.
Release activity rises as refinance and home-sale activity increases, according to the report.
For the second quarter alone, releases of deeds of trust increased 20.7 percent to 65,051 from 53,878 deeds released during the second quarter of last year.
Releases were down 13 percent from the first quarter of this year when there were 74,808 deeds released. The second quarter’s total was the highest total recorded for any second quarter since 2009.
“Releases dropped off a bit during the second quarter, but overall activity is still up this year,” said Ryan McMaken, spokesman for the Colorado Division of Housing. “With mortgage rates at such low levels, there’s a big incentive to buy or refinance right now, assuming your loans gets approved.”
