Home Loan Originations Up in August – NMP Skip to main content

Home Loan Originations Up in August

Phil Hall
Sep 13, 2018
A new study of aspiring Millennial homeowners finds a great desire by this youthful demographic to own property, if only they can overcome financial obstacles

More than 2 million residential mortgages were originated during the second quarter, according to new statistics from ATTOM Data Solutions. That is 15 percent more than during the first quarter and less than 1 percent more a year ago.
 
During the second quarter, 926,516 of the residential loans originated were purchase loans, up 39 percent from the previous quarter and up 1 percent from a year ago, and 799,093 of the residential loans originated were refinance loans, down less than 1 percent from the previous quarter and down 2 percent from a year ago to the lowest level since the first quarter of 2014, a nearly four-year low. Also, 361,845 Home Equity Lines of Credit (HELOCs) were originated on residential properties, up 4 percent from the previous quarter and up 2 percent from a year ago to the highest level since the third quarter of 2008, a nearly 10-year low.
 
“Rising mortgage rates are continuing to cool demand for refinance originations, which were down to their lowest level since 2014—the last time we saw more than six consecutive months with average 30-year fixed mortgage rates above 4 percent,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “Meanwhile buyers are upping the ante when it comes to down payments, evidenced by the record-high median down payment for homes purchased in the quarter, and an increasing number of buyers are getting help from co-buyers.”

 
Published
Sep 13, 2018
Blend Labs Has Cut 420 Jobs Since April

The 25% reduction of its workforce comes as it posts $478 million Q2 loss.

Industry News
Aug 17, 2022
UWM Now Offering Temporary Rate Buydowns

The temporary buydowns will lower borrowers’ interest rates by up to 2% for the first two years of a mortgage. 

Industry News
Aug 17, 2022
Rocket Mortgage Teams With Santander Bank

Rocket's mortgage services now available to Santander's U.S. banking clients

Industry News
Aug 16, 2022
Ameris Bank Commits $10M To Help 1st-Time Homebuyers

The Ameris Down Payment Grant Program will help eligible first-time buyers with down payments and closing costs.

Industry News
Aug 16, 2022
Competition Now Highest For Lowest-Priced Homes

In reverse of pandemic trend, competition for mid- and high-priced homes not as white hot among buyers.

Analysis and Data
Aug 16, 2022
Impac Mortgage Slashes Staffing Levels By 48%

From 330 in 4Q 2021, headcount now stands at 170 for California lender

Non-QM
Aug 15, 2022