Originations See Largest YOY Decline In Two Decades

Mortgage originations saw their largest annual decline in 21 years, further evidence that the housing boom is coming to an end. Originations fell 47% YOY in Q3, according to ATTOM Data’s Q3 2022 U.S. Residential Property Mortgage Origination Report. Quarter-over-quarter they were down 19%, the sixth consecutive drop. Lenders issued a total of $636.5 billion worth of mortgages in Q3. By dollar count, that’s down 22% from Q2 and 46% YOY. It’s the largest dip in loan dollar volume since at least 2001. HELOC lending increased for the fifth time in six quarters, but the boost was overwhelmed by the slump in purchase and refinance origination. “There are no surprises in this quarter’s loan origination numbers, as the unprecedented jump…