Residential mortgage originations on the rise nationwide: report

TRD MIAMI /
Aug.August 09, 2010 12:45 PM

U.S. residential mortgage volume rose in the second quarter while the Federal Housing Administration and reverse mortgage businesses saw declines, according to a report based on the latest data from MortgageDaily.com. Overall, residential mortgage originations increased by 6.5 percent last quarter, though volume was still 37.9 percent below last year, the report says. “Recent data indicate loan pipelines have strengthened, suggesting
third-quarter originations will come in even stronger,” said Sam Garcia, published of Mortgage Daily. “Many borrowers might see a psychological threshold being broken as fixed rates teeter below 4 percent — potentially fueling demand for more refinance activity.” Still, FHA mortgage volume declined both quarter-over-quarter and year-over-year to $71.6 billion worth of loan endorsements. During the first quarter, FHA endorsed $77.9 billion worth of loans. During the second quarter of 2009, that volume was $98.1 billion. Home equity conversion mortgages, or reverse mortgages, also declined in volume to $3.9 billion in the second quarter from last year’s $8.1 billion and the first quarter’s $5.9 billion. TRD


Related Articles

arrow_forward_ios
Photo illustration of Ron DeSantis (Getty, iStock)

DeSantis announces $250M rental, mortgage assistance fund

DeSantis announces $250M rental, mortgage assistance fund
Gov. Ron DeSantis (Credit: Joe Raedle/Getty Images)

Florida extends freeze on evictions and foreclosures to July

Florida extends freeze on evictions and foreclosures to July
Governor Ron DeSantis (Credit: Eva Marie Uzcategui/Getty Images)

Florida governor extends freeze on evictions, foreclosures

Florida governor extends freeze on evictions, foreclosures
Florida Gov. Ron DeSantis (Credit: Joe Raedle/Getty Images)

SoFla prepares for flood of foreclosures and evictions after governor’s freeze

SoFla prepares for flood of foreclosures and evictions after governor’s freeze
Florida Gov. Ron DeSantis (Credit: Joe Raedle/Getty Images)

Florida governor freezes evictions and foreclosures for 45 days

Florida governor freezes evictions and foreclosures for 45 days
South Florida lenders and landlords battle new coronavirus reality

South Florida lenders and landlords battle new coronavirus reality

South Florida lenders and landlords battle new coronavirus reality
From left: Edgardo Defortuna, Stephan Burke, Ron Shuffield, Ana Bozovic, Carol Cassis, and Mark Zilbert

South Florida’s residential sales shift to virtual reality as business slows

South Florida’s residential sales shift to virtual reality as business slows
Sen. Rick Scott

Sen. Rick Scott calls for nationwide moratorium on rent, mortgages and utilities

Sen. Rick Scott calls for nationwide moratorium on rent, mortgages and utilities
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...