Enjoy access to a free NMLS renewal class when you attend an in-person event.
Evidence of increasing homebuyer demand, Churchill Mortgage has announced that it realized a 49 percent year-over-year increase in its purchase volume from April-September. The lender is a leader in the mortgage industry providing conventional, FHA, VA and USDA residential mortgages across 33 states.
Last year, refinances surged as borrowers were seeking to take advantage of historically low interest rates. This year, as interest rates increase, that trend is reversing and purchases are claiming a larger share of production volume. In addition to the year-over-year increase in purchase volume from April-September, Churchill also realized a 40 percent increase in the total number of purchases, as well as a 7.81 percent increase in the average amount per loan, reflecting a rise in home values across the country.
“The spring and summer months are typically when home buying activity is at its highest. This year’s growth is especially noticeable with the shift from refinances to purchases,” said Mike Hardwick, president of Churchill Mortgage. “Anticipating this demand, we invested heavily in tools and personnel to ensure our borrowers are provided with the best mortgage and can ultimately achieve debt-free homeownership.”