The number of home loans paid off in Colorado increased 49% from the fourth quarter of 2011 to the fourth quarter of 2012, and were up 29% for the year as a whole, according to a new report from the Colorado Division of Housing. A total of 305,141 deeds of trust were released in 2012, compared to 235,816 in 2011, the report states.
A release of a deed of trust typically occurs when a real estate loan is paid off whether through refinance, sale of property, or because the owner has made final payment on a home. Increases in the number of releases usually indicate increases in refinance and home purchase activity. Declining numbers of releases can indicate a flat or slow real estate market, according to the Colorado Division of Housing.
In Boulder County, the number of deeds of trust released in 2012 increased 27% from 2011 to a total of 25,002.
