Releases of Deeds of Trust in Colorado Metros Stall in Spite of Record-Low Mortgage Rates
Releases of deeds of trust during the first half of 2014 were down significantly in Colorado metros compared to 2013 during the same period, and were flat from the first quarter of 2014 to the second quarter. During the first half of 2013, there were 179,747 releases of deeds of trust in Colorado metros, and during the same period of 2014, there were 92,955 releases, for a year-over-year decline of 49.4 percent. A release of a deed of trust is an event that occurs when a deed of trust (often referred to as a mortgage) is paid off, either through refinance, sale, or when all payments have been completed on a home loan. It is a "positive" economic indicator in sense that areas with improving economies tend to generally also report increases in releases of deeds of trust. For the second quarter alone, across Colorado's metropolitan counties, 46,696 deeds of trust were released. That's a 0.9 percent increase from the first quarter of 2014 when there were 46,259 re...