CHICAGO, IL--Loan origination requests were up for the second consecutive month but continue to trail last year’s totals through the first six months of the year, Cambridge Realty Capital Companies Chairman Jeffrey A. Davis (top right photo) reports.
In June, Cambridge processed 19 loan requests totaling $243.1 million, compared with 15 loans totaling $249.5 million during the same month last year. In the first half, the Cambridge staff reviewed 132 origination requests totaling $1.7 billion, compared with 145 loans for $2.1 billion a year earlier.
Davis points out that lenders close a relatively small percentage of loan requests received, but believes it’s useful to track this information as an indication of market directions.
“At this point we appear to be holding our own, but recent interest rate declines might logically be expected to encourage borrowers in the second half despite concerns that the economic recovery is not as robust as hoped for,” he said.
Contact:
Evan Washington, Phone: (312) 521-7603, Fax: (312) 357-1611, E-Mail: ew@cambridgecap.com, Twitter: http://twitter.com/CambridgeCap
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