Loan data same as this time last year.
"But year-to-date request totals remain substantially ahead of 2005 through the first five months of the year," said Cambridge Chairman Jeffrey A. Davis.
Through May of this year, Cambridge reviewed 183 origination requests totaling $1.32 million. During the same period last year, the company reviewed 135 requests totaling $1.07 million.
Davis points out that lenders close a relatively small percentage of the origination requests they receive. But he thinks it's useful to track this information as an indication of current market directions.
"The activity we've observed so far this year indicates borrowers are more aggressively responding to rate hikes triggered by the Fed's tighter monetary policies. This remains a good time for borrowers to lock in long-term rates at current levels," he believes.
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|Title Annotation:||Cambridge Realty Capital Cos.|
|Publication:||Real Estate Weekly|
|Article Type:||Brief article|
|Date:||Jul 19, 2006|
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