HOME-MORTGAGE LENDING REVIVES ACROSS U.S. IN THE SECOND QUARTER OF 2023
IRVINE, Calif., Aug. 31, 2023 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its second-quarter 2023 U.S. Residential Property Mortgage Origination Report, which shows that the total number of mortgages secured by residential property (1 to 4 units) in the United States increased to 1.56 million during the second quarter of 2023. While that remained down 38 percent from a year earlier, it was up 21 percent from the first quarter of 2023 - the first such increase in two years.
- However, it increased from the first quarter to the second quarter of 2023 in 192, or 97 percent, of those metro areas.
- HELOC mortgage originations increased from the first quarter of 2023 to the second quarter of 2023 in 79 percent of the metro areas analyzed.
- The second quarter of 2023 saw increases nationwide in both the median single-family home loan and the typical down payment percentage for home purchases in the second quarter of 2023.
- The median down payment of $31,500 on single-family homes and condos purchased with financing in the second quarter of 2023 was up 19.1 percent from $26,450 in the first quarter of 2023.