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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (6523)	4/1/1999 7:24:00 PM
From: TimbaBear	Read Replies (2) of 78645

Title Insurance revenues are highly dependent on mortgage transactions....everything will look rosy right now because of the refinance boom that has been going on for the last year or so has vastly increased (probably doubled) the number of mortgage transactions....if interest rates rise, their volume will drop appreciably and they will have excess overhead until they re-adjust....I haven't followed this or any title company (and don't intend to) but you might want to check and see if the moves in price were at the same time that rates took a jump due to inflation fears highlighted by the OPEC news and the resultant rise in oil prices....then decide for yourself what you think rates are going to do in the foreseeable future and what effect that will have on revenue stream.

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