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| Todd Teta |
IRVINE, CA — ATTOM Data Solutions, curator of the
nation’s premier property database and first property data provider of
Data-as-a-Service (DaaS), released its first-quarter 2020 U.S. Residential
Property Mortgage Origination Report, which shows that 1.07 million refinance
mortgages secured by residential property (1 to 4 units) were originated in the
first quarter of 2020 in the United States.
That figure was down 16 percent from the fourth
quarter of 2019 but up 87 percent from the first quarter of 2019.
With interest rates continuing near all-time
lows, refinance mortgages originated in the first quarter of 2020 represented
an estimated $328.5 billion in total dollar volume, down 16 percent from the
previous quarter but up 105 percent from a year ago.
Refinance loans accounted for 55.7 percent of
all 1.92 million home loans in the first quarter of 2020, virtually the same as
the 55.9 percent of loans in the fourth quarter of 2019, but up from 41.3
percent in the first quarter of 2019.
“Home-loan data was way up again in the first
quarter of the year, with refinancing activity again accounting for more than
half the total volume of mortgages," said Todd Teta, chief product
officer at ATTOM Data Solutions.
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| Rob Barber |
"The number and dollar value of home loans
marked yet another sign of the how charged up the U.S. housing market continued
to be in the early months of the year when everything was still pointing in the
right direction.
“Unfortunately, that is all uncertain now due to
the economic fallout from the virus pandemic that could throw the market into a
downturn. But at least the market heads that uncertainty with some of the
strongest home loans – and by extension, overall market – numbers since the
aftermath of the last recession.”
ATTOM also reports CEO Rob
Barber has been named a 2020 Maverick of the Year by the American
Business Awards®.
This award recognizes
individual executives who have affected the most positive change on his or her
company and/or industry since the beginning of 2019.
CONTACTS:
Christine Stricker
949.748.8428
Data and Report Licensing:
949.502.8313
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