 |
| Daren Blomquist |
IRVINE, CA — ATTOM Data
Solutions, curator of the nation’s largest fused property database, released
its Q4 2016 U.S. Residential Property Loan Origination Report, which shows more
than 1.7 million (1,748,177) loans were originated on U.S. residential
properties (1 to 4 units) in the fourth quarter of 2016, down 15 percent from
the previous quarter but still up 2 percent from a year ago.
“Refinance originations
continued to post strong numbers compared to a year ago in the fourth quarter
even as purchase originations decreased on a year-over-year basis for the
second consecutive quarter,” said Daren
Blomquist, senior vice president at ATTOM Data Solutions.
“The increase in refinance
originations is surprising given the rising interest rates in the fourth
quarter, but many homeowners may have been trying to lock in still relatively
low interest rates before those interest rates rose further.
“On the other hand, rising
interest rates did seem to have a chilling effect on homebuyers using
financing, as evidenced not only by the drop in purchase loan originations but
also a corresponding rise in the share of cash buyers, drop in FHA buyer share
and a rise in the average down payment percentage in the fourth quarter
compared to the previous quarter,” Blomquist added.
“For the year, the median down payment for
loans secured by single family homes and condos was 6.0 percent of the median
sales price nationwide, the lowest down payment percentage since 2012, but
still close to twice the 3.3 percent in 2006 during the last housing boom.
For a complete copy of the company’s news release,
please contact:
Jennifer von Pohlmann
Office: 949-502-8300 ext
139
No comments:
Post a Comment