RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
RISMedia
No Result
View All Result

Residential Mortgage Lending Declined at Fastest Pace in 8 Years in Q2

Home Agents
By RISMedia Staff
August 29, 2022
Reading Time: 2 mins read
Residential Mortgage Lending Declined at Fastest Pace in 8 Years in Q2

Residential mortgage lending in the second quarter of 2022 declined at its fastest pace in eight years, according to new data from ATTOM, a curator of real estate data.

2.39 million residential property mortgages were originated in the second quarter, marking the fifth consecutive quarterly decline. This figure is down 13% from the previous quarter and down 40% from last year.

The dip in total activity, despite a moderate uptick in purchase loan activity, is attributed to a massive reduction in refinancing activity, which also decreased for the fifth consecutive quarter.

Just 941,000 residential loans were rolled over into new mortgages during the second quarter, the lowest level in three years, according to the report. This figure marks a 36% drop from the previous quarter and a 60% tumble from last year.

Key findings:

  • Banks and other lenders issued 2,385,051 residential mortgages in the second quarter of 2022, which is down 13% from last quarter and 40% from last year.
  • Lenders issued just under 1 million residential refinance mortgages in the second quarter of 2022—the smallest count since the second quarter of 2019.
  • A total of 341,704 home equity lines of credit (HELOCs) were originated on residential properties in the second quarter, up 34.5% from the prior quarter and up 43.8% from last year.
  • Mortgages backed by the FHA rose as a portion of all lending for the third straight quarter, accounting for 10.7% of all residential property loans originated in the second quarter of 2022.
  • The national median down payment on homes purchased with financing increased during the second quarter of 2022 after declining in the prior two quarters, while the typical amount borrowed rose to another new high.

The takeaway:

“Mortgage rates that have virtually doubled over the past year have decimated the refinance market and are starting to take a toll on purchase lending as well,” said Rick Sharga, executive vice president of market intelligence at ATTOM. “The combination of much higher mortgage rates and rising home prices has made the notion of homebuying simply unaffordable for many prospective buyers, which threatens to drive loan volume down even further as we exit the spring and summer months.

“Borrowers looking to tap into their equity should know that HELOC activity has been particularly strong among credit unions and community banks, along with a small but growing number of depository banks,” Sharga noted. “While non-bank mortgage lenders may begin to more aggressively originate home equity loans, it’s not likely that they’ll be active participants in the HELOC market.”

Tags: ATTOMMortgage LendingMortgage refinancing
ShareTweetShare

RISMedia Staff

Related Posts

Compass to Share Its Private Exclusives With Rivals, on Two Conditions
Agents

Compass to Share Its Private Exclusives With Rivals, on Two Conditions

July 11, 2025
Compass
Agents

Compass Expands in Colorado with Affiliation of PorchLight Real Estate Group

July 11, 2025
NAHB Awards Program Now Accepting Applications
Industry News

NAHB Awards Program Now Accepting Applications

July 11, 2025
PAVE
Industry News

HUD, OMB Eliminate Core Policies From Biden-Era Home Appraisal Task Force

July 11, 2025
media
Agents

Rich Media Isn’t a Luxury. It’s Your New Standard.

July 11, 2025
Affordability
Industry News

Housing Affordability Melts as Market Heats Up for Summer

July 11, 2025
Please login to join discussion
Tip of the Day

More Face Time: 3 Ways to Boost Engagement With Selfie-Style Content

In the age of TikTok, hyper-polished, overly-produced videos are a thing of the past. Today's most effective social media content is simple, scrappy and all you need is your phone. Read more.

Business Tip of the Day provided by

Recent Posts

  • Compass to Share Its Private Exclusives With Rivals, on Two Conditions
  • Compass Expands in Colorado with Affiliation of PorchLight Real Estate Group
  • NAHB Awards Program Now Accepting Applications

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kit Email Whitelist Terms & Policies ACE Marketing Technologies LLC

© 2025 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • Reports
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2025 Newsmakers
    • 2024 Newsmakers
    • 2023 Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2025 Power Broker
    • 2024 Power Broker
    • 2023 Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2025 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

X