What's New This Month
As we enter the spring homebuying season, a new report by Redfin shows the housing market is hitting another record. More than half of homes (52 percent, exactly) that were for sale gained a purchase contract within two weeks of going on the market. 

That’s not just fast. That’s crazy fast. And many factors could be playing into what we’re seeing. Low mortgage rates. Tight inventory for motivated buyers. Just to name a few. 

At West Virginia Bankers Title, we are laser focused on providing the best title insurance products possible in these market conditions. While listings might be moving quickly, we aren’t cutting corners on the peace of mind we’re offering our customers. 

March is sure to be another interesting month for the real estate industry. Our skilled team is here to help you through it!

Here’s to warmer weather (though I might be jinxing it!) 

Bob Drummond, Vice President/Agency Manager of West Virginia Bankers Title 

Mortgage Delinquency Rate Below 6 percent for the First Time in Nearly a Year
According to new data from Black Knight, Inc., the percentage of homeowners facing financial difficulties making their mortgage payments decreased to 5.9 percent in January. The improvement is promising news for the lending industry as more borrowers are regaining footing following the economic challenges created by COVID-19. The portion of loans whose payments were 30 or more days late but not yet in foreclosure territory also fell.
CFPB Goes on Hiring Spree as It looks to Ramp up Enforcement
The Consumer Financial Protection Bureau is staffing up to prepare for a renewed focus on enforcement and oversight of the banking industry, including mortgage servicers and other financial firms. The American Banker has a comprehensive analysis of what this means for lenders and what we can expect from the agency that is expanding its attorney ranks ahead of current Federal Trade Commissioner Rohit Chopra’s confirmation hearings to lead the CFPB.
Millennial and Gen Z Savings Priorities
What life events are young Americans saving for? It turns out the much-analyzed Millennial and Gen Z consumer groups are putting more money back to purchase their first house than to have their first baby. Nearly 60 percent of respondents in a new LendingTree survey indicated they were saving for a home, while just under half said they were budgeting to start a family. We’re sure aspiring grandparents everywhere are rationalizing this news with the hope that their adult children are on the hunt for a house with an extra bedroom perfect for an at-home office (...or a future nursery.)
Mortgage Trends
Professional Development
Market Highlights
What do title insurance and basketball
have in common?
Okay, not much. We’re both in it to win it. One just takes less dribbling (and running) than the other. All jokes aside, it can’t be the March e-newsletter of The Cardinal without a little bracket talk. Maybe we’re just extra excited that all signs point to Selection Sunday and a NCAA tournament happening this year. I know the West Virginia Bankers Title team is that much more grateful for some good ol’ March Madness fun. Here are some bracket predictions to get you started. Per usual, the Mountaineers have another strong squad this year. You already know who we’re picking to win it all!