Friday, May 22, 2020

ATTOM Data Solutions Reports Dollar Volume of Residential Refinance Originations Doubles Annually in First Quarter of 2020; Total Loan Origination Dollar Volume Up 54 Percent from Last Year



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.

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


No comments:

Post a Comment