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2nd Quarter Mortgage Gains Show Market Strength

ATTOM Data Solutions' recently released second-quarter 2023 U.S. Residential Property Mortgage Origination Report shows the total number of residential mortgages secured during the second quarter increased 21 percent from the first quarter. The quarter-over-quarter increase – which includes purchase, refinance, and home-equity lending – was the first in two years. The improvement was led by purchase loans, which made up about half of all mortgages issued, with refinance packages making up a third and home-equity loans just under 20 percent. Rob Barber, ATTOM's CEO, says the data shows the housing market's continued strength. “Lenders certainly aren't anywhere near as busy as they were back in 2021,” Barber said. “And the second quarter surge could be just a momentary thing. But the upturn was significant, and a testimony to how strong the housing market remains around the country.” Increases in residential mortgages were seen in 95 percent of the country, marking the first gains following eight consecutive quarterly declines.

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