Equity-Rich

Dwindling Refis Eclipsed Rising HELOC, Purchase Lending In Q2 2022

Posted on by TMN Editor
Refinance lending fell 36% from Q1 to Q2 2022, eclipsing increases in other lending areas, according to ATTOM’s second-quarter 2022 U.S. Residential Property Mortgage Origination Report. The report found that 2.39 million mortgages secured by residential property were originated in Q2 2022, down 13% from Q1 and 40% YOY. This is the fifth consecutive quarter of falling originations and the biggest annual drop since 2014. Though purchase originations and home-equity lending actually increased 8% and 35%, respectively, they were heavily outweighed by the double-digit refi drop. The total number of mortgages issued was down 13.2% from Q1 and 40% YOY, dropping at their fastest pace in eight years. Lenders issued $807.8 billion worth of mortgages overall in Q2, down 11%…

Half Of Mortgaged Homes Are Equity-Rich

Posted on by TMN Editor
Nearly half of mortgaged homes in the U.S. were equity-rich in Q2, with the most equity gains concentrated in the South, according to ATTOM’s Q2 2022 U.S. Home Equity & Underwater Report. The report found that 48.1% of mortgaged residential properties had an estimated worth that topped their loan balances by 50% or more. That’s up from 44.9% in Q1 2022 and 34.4% YOY. At least half of all mortgagees in 18 states were equity-rich, up from just 3 states at the same time last year. It’s the ninth consecutive quarter in which the number of equity-rich homes increased. ATTOM also found that only 2.9% of mortgaged homes were considered seriously underwater in Q2, down from 3.2% in Q1 and…