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.”

Sep 13, 2018
CFPB Issues Guidance On AI In Credit Underwriting

Creditors must provide specific and accurate reasons for credit denials, even with complex AI models.

Sep 19, 2023
Intercontinental Exchange Completes Black Knight Acquisition; Births Dark Matter Technologies Under Constellation Software

Rich Gagliano takes the helm at Dark Matter Technologies, poised to lead the future of Empower LOS with a 1,300-strong team, blending startup agility with decades of industry experience.

Sep 18, 2023
FHFA Invites Public Engagement On Modernized Credit Score Transition

Stakeholder forums and listening sessions planned to ensure seamless rollout; extended timeline for bi-merge credit report requirement in play.

Sep 11, 2023
Desperation Drives Difficulty in Closing Mortgages in California

Analysis reveals California among top 20 toughest states for mortgage closures.

Sep 11, 2023
If You Build It, They Will Come

Ratings will go a long way toward growing the market for home equity-backed securities

Sep 07, 2023
Investors May Be Losing Interest In The Single-Family Rental Market

Rise in interest rates, drop in values have them pulling back in certain regions

Sep 07, 2023