April 26, 2024 10:23 am
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Loan apps up 23%, purchases up 9%, refis 32%

loan-applicationBy Trey Garrison | HousingWire

A total of 1,950,267 loans were originated on single-family homes and condos in the second quarter, up 22% from the previous quarter and up 23% from a year ago to the highest level since the third quarter of 2013, according to the latest report for the second quarter from RealtyTrac.

The total dollar volume of loans originated in the second quarter was nearly $540 billion, up 14% from the previous quarter and up 29% from a year ago. Refinance originations represented nearly $307 billion in the second quarter, 56.7% of total loan origination dollar volume, and purchase loan originations represented nearly $234 billion, 43.3% of total origination dollar volume. As a share of total loan origination dollar volume, purchase originations reached a recent peak of 51.3% in the third quarter of 2014.

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