» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 128 | NO. 10 | Tuesday, January 15, 2013

Fourth-Quarter Mortgages Rise 21 Percent

By Andy Meek

Print | Front Page | Email this story | Email reporter | Comments ()

The fourth quarter of 2012 in Shelby County essentially followed the same upward swing in mortgage activity as was seen throughout the year as a whole.

There were 1,925 mortgages during the fourth quarter of 2012, up 21 percent from the 1,592 during the same period the previous year.

Between October and December, total mortgage volume rose to almost $298 million compared to a little more than $234 million in the year-ago period.

The average mortgage amount in the fourth quarter of 2012 was $154,648, up from the $147,229 during the same period of 2011.

The same lenders led the way during the fourth quarter of 2012 in terms of mortgage activity and in all of 2012. During the fourth quarter, Community Mortgage Corp., Magna Bank, Patriot Bank and Wells Fargo Ltd. were the big mortgage-makers.

Community Mortgage Corp. made 200 mortgages in the fourth quarter with a total volume of almost $34 million. Magna made 146 mortgages with a total volume of a little more than $25 million. Patriot Bank made 103 mortgages with a total volume of almost $20 million, and Wells Fargo made 87 mortgages with a total volume of almost $18 million.

Chandler Reports is a division of The Daily News Publishing Co. Inc.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 65 366 17,721
MORTGAGES 70 417 23,068
FORECLOSURE NOTICES 0 76 4,504
BUILDING PERMITS 210 932 42,157
BANKRUPTCIES 62 299 16,691
BUSINESS LICENSES 19 80 5,781
UTILITY CONNECTIONS 49 305 25,174
MARRIAGE LICENSES 16 96 5,381

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.