The second quarter of 2024 has seen a sharp increase in residential mortgage originations across the nation, with loans totaling nearly $533 billion– a dollar value soaring 27.6% above first-quarter levels, a new report from ATTOM shows.
The 1,615, 281 mortgages issued also rose 23.2% above the previous quarter's figures. These results were what ATTOM called one of the mortgage industry's biggest boosts in years. Still, they remained well below previous peaks.
"A cautionary note is warranted, as we shouldn't read too much into one great quarter," warned ATTOM's CEO Rob Barber, noting that a similar outbreak of lending last spring later fizzled.
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