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VOL. 129 | NO. 136 | Tuesday, July 15, 2014

June Mortgage Total Improves 17 Percent

By Andy Meek

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June 2014 was a better month for mortgage activity than the same month in 2013.

Total volume rose 17 percent to almost $175 million last month, up from almost $149 million a year ago, according to Chandler Reports.

There were 933 mortgages made last month, a 15 percent increase from the 810 in June 2013. And the average mortgage amount was $187,440 last month, up from $183,773 in June 2013.

Last month’s totals also represent gains over all three mortgage metrics in the previous month. May 2014 saw 685 mortgages in Shelby County, with an average mortgage of $173,674 and total volume of almost $119 million.

The top lenders last month were Magna Bank, with 74 mortgages; Community Mortgage Corp., with 65 mortgages; Patriot Bank, with 55 mortgages; and BancorpSouth, with 42 mortgages.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 60 120 8,936
MORTGAGES 89 177 12,029
FORECLOSURE NOTICES 0 29 2,457
BUILDING PERMITS 0 188 20,029
BANKRUPTCIES 60 122 7,748
BUSINESS LICENSES 20 36 3,260
UTILITY CONNECTIONS 106 224 11,247
MARRIAGE LICENSES 27 73 2,741

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