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What the Increase in Co-Borrowing Means for Residential

More co-borrowing is a creative way the marketplace is responding to the affordability crunch, and it is helping to sustain the housing boom—but there are drawbacks, ATTOM Data's Daren Blomquist tells GlobeSt.com.

By Carrie Rossenfeld | carrierossenfeld | Updated on September 22, 2017

Daren Blomquist Blomquist: “The rising trend in co-borrowers is just one more sign that the housing market is becoming overheated and starting to slowly but surely introduce more risk to keep the real estate engine running at high RPMs.”

IRVINE, CA—More co-borrowing is a creative way the marketplace is responding to the affordability crunch, and it is helping to sustain the housing boom—but there are drawbacks, ATTOM Data Solutions‘ SVP Daren Blomquist tells GlobeSt.com. A recent report from the firm reveals that 22.8% of all purchase-loan originations on single-family homes in Q2 involved co-borrowers—multiple, non-married borrowers listed on the mortgage or deed of trust—up from 21.3% in the previous quarter and up from 20.5% in Q2 2016. We spoke with Blomquist about the positives and negatives of this trend and its future implications for the housing market.

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