The value of purchase originations fell in the third quarter—only the second time the value of new mortgages was lower than a year ago since June 2011, according to a report released Thursday by a Los Angeles-area property analytics company.
ATTOM Data Solutions' U.S. Residential Property Mortgage Origination Report showed U.S. lenders of all types generated $248.4 billion in purchase originations in the three months that ended Sept. 30, down 1.8% from 2017′s third quarter. The previous drop was from 2016′s third quarter to 2017′s third quarter when originations fell 1.9% to $252.9 billion.
The number of purchase originations has fallen each quarter on a year-ago basis since the second quarter of 2017. In the third quarter they fell 2.4% to 892,760.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
