Banker & Tradesman. January 8, 2018

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JANUARY 12 | MOHEGAN SUN SEE PAGE 11 FOR MORE INFO.

THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS

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County close-up: Barnstable Spotlight: Marstons Mills

IN PERSON

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Rita Coffey has been working in the same Weymouth office with some of the same co-workers for more than three decades. Her passion for housing has taken her from a part-time sales agent up through the ranks to general manager of the office.

WEEK OF MONDAY, JANUARY 8, 2018

BANKING& LENDING BY THE NUMBERS

#1 Cape Cod Five continues its streak at the top of the mortgage market in Barnstable County. See page 6 for the rest of the top three mortgage lenders in Barnstable.

$267,896,887 The No. 1 loan originator in the state originated 771 total mortgages through the first three quarters of 2017, for a total of $267,896,887 (purchases and refis).

COMMERCIAL INTERESTS

A RECORD YEAR IN REAL ESTATE Sale Prices Likely to Continue Skyward Climb in 2018

BY SCOTT VAN VOORHIS BANKER & TRADESMAN COLUMNIST

W

e all know nothing lasts forever, and that includes real estate bull markets, which have a tendency to crash just as everyone starts believing home prices won’t ever go down again. But predicting the next downturn is a bit of a crap shoot, especially when there is no obvious evidence of a potential bubble, as there was with the subprime mortgage mess before the Great Recession. Still, looking at the patterns of the past can shed a little light on where we are in this current real estate and where we might be headed. And surprisingly, despite more than a half decade of home price increases, upward pressure on real estate values apContinued on Page 3

91,636 Of the 91,636 single-family home mortgages originated in Massachusetts through the end of Q3 2017, 48,044 were purchase mortgage and 43,592 were refis.

$0 The most expensive home sold in the state in mid-December was an all-cash deal and carries no mortgage. See page 8 for more of the most expensive homes sold in Massachusetts.

A Record Year in Massachusetts

11% Of a total 127,734 mortgages originated statewide through the end of Q3 2017 across all residential categories, 11 percent were for condominium purchases.

$1.1 billion State-chartered banks in Massachusetts have collectively seen home equity loan volume grow by close to $1.1 billion since 2014, reaching over $5.8 billion as of Sept. 30, 2017, Source: FDIC See page 10 for more about HELOC loan growth and the product’s future under the new tax law.

Year

Number of sales

Percent change

Median sale price

Percent change

2012

44,333

20.6%

$290,000

1.0%

2013

46,526

4.9%

$324,000

11.7%

2014

45,488

-2.2%

$333,329

2.9%

2015

50,160

10.3%

$340,000

2.0%

2016

55,760

11.2%

$346,000

1.8%

2017

55,968

0.4%

$365,000

5.5%

All figures year to date through November, all years

All figures for single-family homes Source: The Warren Group

8,465 The CFPB received 8,465 consumer complaints about Wells Fargo in 2017, the highest of any financial institution. Source: Analysis of CFPB Complaint Database by LendEDU

TA X R E F O R M S P E C U L AT I O N

After Tax Reform, HELOC Hotel Boom Rekindles Demand Uncertain BCEC Expansion Debate By Bram Berkowitz | Banker & Tradesman Staff

Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.

‘THE BIGGER, THE BETTER’

BANKING & LENDING PAGE 10

By Steve Adams | Banker & Tradesman Staff

COMMERCIAL REAL ESTATE PAGE 9


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