Mortgage Activity Spikes in Spring 2025: What It Means for Buyers and Homeowners

Mortgage activity saw a noticeable spring spike this year, according to newly released data from ATTOM Data Solutions. The company’s Q2 2025 U.S. Residential Property Mortgage Origination Report revealed that 1.76 million mortgages were issued during the second quarter—a 19.4% increase compared to the first quarter of the year.

While the uptick in mortgage originations is encouraging, experts caution against viewing it as a clear market shift. Rob Barber, CEO of ATTOM, explained that the rise is more likely due to seasonal momentum than a true breakout.

“Mortgage activity perked up a bit in the second quarter, but it’s not a clear signal that the market has turned a corner,” Barber said. “The increase in purchase and refinance activity reflects some buyer and homeowner response to marginal rate improvements, but underlying affordability and economic uncertainty continue to hold the market in check. This was a typical spring bounce, not yet a breakout.”

Year-Over-Year Growth Still Positive

Even though affordability challenges and economic uncertainty remain, the second-quarter gains did push mortgage activity 6.3% higher than the same period last year. That’s good news for both home buyers and homeowners looking to refinance.

What This Means for Buyers and Homeowners

• Home Buyers: With mortgage originations on the rise, more buyers are finding opportunities to enter the market when rates dip slightly.

• Homeowners: Refinance activity picked up as some borrowers saw a chance to lock in better terms.

• The Market Overall: While this growth is seasonal, it shows that consumers are ready to act when conditions improve, even modestly.

Bottom Line

The Q2 2025 mortgage origination data shows that activity is moving in the right direction, but experts agree it’s still too early to call this a full recovery. For now, the spring bounce provided a welcome boost to the housing market, but sustained improvements in affordability and economic stability will be key to longer-term growth.