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HOME MORTGAGE LENDING REBOUNDS NATIONWIDE WITH ACROSS-THE-BOARD GAINS IN SECOND QUARTER OF 2024

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Residential Loans Surge 23 Percent Quarterly, Climbing Back to Levels from a Year Earlier; Purchase, Refinance and Home-Equity Lending All Increase; Despite Shift, Lending Activity Still Off Nearly Two-Thirds from 2021 Peak

IRVINE, Calif., Aug. 29, 2024 /PRNewswire/ — ATTOM, a leading curator of land, property, and real estate data, today released its second-quarter 2024 U.S. Residential Property Mortgage Origination Report, which shows that 1.62 million mortgages secured by residential property (1 to 4 units) were issued in the United States during the second quarter, representing a 23.2 percent increase over the prior three-month period.

The spike still left total residential lending activity down 1.6 percent from the second quarter of 2023 and 61.2 percent from a high point hit in 2021. But it marked the first gain in a year and boosted the number of residential loans back up close to the level from a year earlier. The rebound came amid a strong Spring home-buying season and mortgage interest rates that dipped downward after months of increases.

The increase in overall lending resulted from improvements across all major categories of residential loans, especially for home buying. Purchase-loan activity jumped 32.7 percent quarterly, to about 783,000, refinance deals rose by 10.3 percent, to about 546,000, and home-equity credit lines shot up 26.5 percent, to about 286,000.

Measured monetarily, lenders issued nearly $533 billion worth of residential mortgages in the second quarter of 2024. That was up 27.6 percent from the first quarter of 2024 and 1.1 percent from the second quarter of last year.

The varying increases among different loan types boosted the share of residential mortgages for home purchases, while reducing the proportion of refinancing loans. Purchase loans remained the most common form of mortgages around the U.S. in early 2024, comprising almost half of all mortgages, followed by refinance packages and home-equity lending.

“The mortgage industry got one of its biggest boosts in years during the second quarter, supported by a combination of the usual Springtime home-buyer demand coupled with more attractive mortgage rates,” said Rob Barber, CEO at ATTOM. “However, a cautionary note is warranted, as we shouldn’t read too much into one great quarter. A similar trend occurred last Spring, with lending dropping off significantly later in the year. But with interest rates settling down and projections for more cuts from the Federal Reserve over the coming months, it wouldn’t be surprising if business increased even more for lenders over the rest of 2024, or at least didn’t drop significantly.”

Total lending recovers losses over the past year but remains well below peaks
Banks and other lenders issued a total of 1,615,281 residential mortgages in the second quarter of 2024, up from 1,311,377 in first quarter of 2024.

The latest total was still down slightly from 1,642,100 in the second quarter of 2023 and remained far behind a recent high point of 4,167,656 hit in the first quarter of 2021. But the recent gain mostly reversed three straight quarters of declines.

A total of $532.7 billion was lent to home owners and buyers in the second quarter of this year. That was up from $417.4 billion in the prior quarter and from $526.8 billion in the second quarter of 2023, although still less than half the recent peak of $1.3 trillion in 2021.

Overall lending activity followed a similar pattern at the metropolitan area level. The total rose from the first quarter to the second quarter of this year in 201, or 98 percent, of the 205 metropolitan statistical areas around the U.S. that had a population of 200,000 or more and at least 1,000 total residential mortgages issued from April through June of 2024. But it remained down from the second quarter of 2023 in 118, or 58 percent, of the metro areas analyzed.

The largest quarterly increases were in Boulder, CO (total lending up 106.5 percent from the first quarter of 2024 to the second quarter of 2024); Honolulu, HI (up 100.2 percent); Appleton, WI (up 63.1 percent); Sioux Falls, SD (up 56.8 percent) and Champaign, IL (up 54.7 percent).

Aside from Honolulu, metro areas with a population of least 1 million that had the biggest increases in total loans from the first to the second quarter of 2024 were San Jose, CA (up 46 percent); Minneapolis MN (up 44.3 percent); Indianapolis, IN (up 42.3 percent) and Boston, MA (up 35.4 percent).

The only metro areas with enough data to analyze where lending went down quarterly were Pensacola, FL (down 19.8 percent); Buffalo, NY (down 16.1 percent); Atlantic City, NJ (down 2.4 percent) and Springfield, IL (down 1.7 percent)

Measured annually, the largest declines in total lending among metro areas with a population of at least 1 million were in San Antonio, TX (total lending down 19.1 percent from the second quarter of 2023 to the second quarter of 2024); St. Louis, MO (down 14.9 percent); Austin, TX (down 13.9 percent); Dallas, TX (down 11.5 percent) and Buffalo, NY (down 11 percent).

Purchase mortgages, also up quarterly but slightly down annually, remain top loan type
The second-quarter purchase-loan total of 782,937 was up from 590,058 in the first quarter of 2024 while the $311 billion dollar volume of purchase loans was 39.2 percent higher than the $223.4 billion first-quarter level.

But the total was off 7 percent from 841,984 a year earlier and remained 50 percent lower than a high point hit in the Spring of 2021. The dollar amount was still off by 2.2 percent from $318.1 billion in the second quarter of last year and 42 percent beneath the 2021 peak.

Residential purchase-mortgage originations increased quarterly in 98 percent of the 205 metro areas in the report, while remaining down annually in 74 percent of those markets.

The largest quarterly increases were in Wichita, KS (purchase loans up 183.5 percent from the first quarter of 2024 to the second quarter of 2024); Boulder, CO (up 148.8 percent); Honolulu, HI (up 143.5 percent); Indianapolis, IN (up 86.8 percent) and Fort Wayne, IN (up 82.8 percent).

Aside from Honolulu and Indianapolis, the biggest quarterly increases in metro areas with a population of at least 1 million in the second quarter of 2024 came in San Jose, CA (up 68.5 percent); Boston, MA (up 65.9 percent) and Minneapolis, MN (up 60 percent).

The top annual decreases in purchase lending in metro areas with a population of at least 1 million were in San Antonio, TX (down 32 percent from the second quarter of 2023 to the second quarter of 2024); Dallas, TX (down 24 percent); Austin, TX (down 22.1 percent); Houston, TX (down 20.3 percent) and St. Louis, MO (down 19.6 percent).

The portion of all lending comprised by purchase mortgages rose for the first time in a year. It increased to 48.5 percent in the second quarter of 2024, from 45 percent in the prior quarter, although still down from 51.3 in the second quarter of 2023. Loans issued to buyers remained the most common loan category, way up from 29.7 percent in early 2021 when refinance deals were dominating the lending business.

Refinance mortgages turn back upward
Lenders issued 545,928 residential refinance mortgages in the second quarter of 2024. That was up from 494,862 in the first quarter of 2024 and 503,364 a year earlier.

The most recent figure represented the latest in a series of small comebacks after a spike in interest rates in 2021 and 2022 sent refinance lending downward by more than 80 percent.

The $168.1 billion dollar volume of refinance packages in the second quarter of 2024 was up 10.6 percent from $152 billion in the prior quarter and 8.5 percent from $155 billion in the second quarter of 2023.

Refinancing activity increased quarterly in 80 percent and annually in 76 percent of the metro areas around the U.S. with enough data to analyze.

The largest quarterly increases were in Honolulu, HI (refinance loans up 69.7 percent from the first quarter of 2024 to the second quarter of 2024); Sioux Falls, SD (up 54.5 percent); Boulder, CO (up 54.5 percent); Champaign, IL (up 53.1 percent) and Appleton, WI (up 50 percent).

Aside from Honolulu, metro areas with a population of least 1 million where refinance activity increased most quarterly were Providence, RI (up 29 percent); Minneapolis, MN (up 24.9 percent); Detroit, MI (up 24.7 percent) and Kansas City, MO (up 23.2 percent).

Metro areas with a population of least 1 million and the largest year-over-year increases in the number of refinance loans were Honolulu (up 43.9 percent from the second quarter of 2023 to the second quarter of 2024); Birmingham, AL (up 28.8 percent); Phoenix, AZ (up 26.9 percent); Las Vegas, NV (up 26.8 percent) and Tucson, AZ (up 26.7 percent).

Refinance packages comprised 33.8 percent of all loan originations in the second quarter of 2024. That was down from 37.7 percent in the prior quarter and far less than the 65.8 percent portion in the first quarter of 2021.

HELOC lending also climbs, nearly reaching levels from a year earlier
Home-equity lines of credit (HELOCs) also increased, going from 226,417 in the first quarter of 2024 to 286,416 in the second quarter. The improvement nearly wiped away losses sustained over the prior year, approaching the figure of 296,752 in the second quarter of 2023.

The $53.6 billion volume of HELOC loans in the second quarter of 2024 was up from $42 billion in the prior three-month period, almost equaling the $53.7 billion lent in the second quarter of last year.

HELOCs comprised 17.7 percent of all loans in the most recent quarter. That was down from 18.1 percent in the second quarter of 2023 but was still almost four times the level recorded in 2020.

HELOC mortgage originations increased from the first quarter to the second quarter of 2024 in 98 percent of the metro areas analyzed. The largest quarterly increases in metro areas with a population of at least 1 million were in Rochester, NY (up 49.6 percent); Detroit, MI (up 47.6 percent); Minneapolis, MN (up 40.6 percent); Milwaukee, WI (up 38.3 percent) and Grand Rapids, MI (up 38.2 percent).

FHA and VA loan percentages decline
Mortgages backed by the Federal Housing Administration (FHA) decreased in the second quarter of 2024 as a percentage of all home loans after 10 straight quarterly increases. They accounted for 223,919, or 13.9 percent, of all residential property loans originated in the second quarter of 2024. That was down from 16.4 percent in the first quarter of this year, although still up from 13.6 percent in the second quarter of 2023.

Residential loans backed by the U.S. Department of Veterans Affairs (VA) totaled 81,864, or 5.1 percent, of all residential property loans originated in the second quarter of 2024. That was down from 5.4 percent in both the previous quarter and the second quarter of 2023.

Typical purchase loan and down-payment percentage increase along with home prices
As the national median home price hit a new high in the second quarter of 2024, the typical single-family home loan and median down-payment percentage both rose.

Among homes purchased with financing in the second quarter of 2024, the median loan amount climbed to $368,207. That was up 7.2 percent from $343,561 in the prior quarter and 8.4 percent from $339,625 a year earlier.

Also rising was the median down payment, going up 11.1 percent quarterly, to $24,250; although it was still down 7.7 percent from a year earlier.

Report methodology

ATTOM analyzed recorded mortgage and deed of trust data for single-family homes, condos, town homes and multi-family properties of two to four units for this report. Each recorded mortgage or deed of trust was counted as a separate loan origination. Dollar volume was calculated by multiplying the total number of loan originations by the average loan amount for those loan originations.

About ATTOM
ATTOM provides premium property data to power products that improve transparency, innovation, efficiency, and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include ATTOM Cloudbulk file licensesproperty data APIsreal estate market trendsproperty navigator and more. Also, introducing our newest innovative solution, making property data more readily accessible and optimized for AI applications– AI-Ready Solutions

Media Contact:
Megan Hunt
megan.hunt@attomdata.com 

Data and Report Licensing:
datareports@attomdata.com

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SOURCE ATTOM

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AI-Powered Connectivity: APAC Charts a Path to a Smarter Digital Future

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Asia-Pacific’s first Broadband Development Summit brings regulators and operators to Bangkok to set the agenda

BANGKOK, July 19, 2026 /PRNewswire/ — Government officials, standards bodies and telecom operators gathered in Bangkok on 14 July for the inaugural Broadband Development Summit APAC 2026, convened by the World Broadband Association (WBBA) to build consensus on AI-era networks.

Participants included the ITU, Thailand’s National Board of the Digital Economy and Society, WBBA, IAB, FNCAP, WAA, NIDA and the IPv6 Council, alongside operators Telkomsel, XLSmart, Surge, Globe, AIS, CMI and HKT and Huawei.

Denny Deng, President of Huawei Asia Pacific Carrier Business, envisions a “faster, smarter, greener” Asia-Pacific.

VOICES FROM THE SUMMIT

“To seize the opportunities of the AI era, we call on the industry to accelerate broadband evolution, advance computing-network synergy, and strengthen the cross-border connectivity. Together, let us build faster, smarter, and greener digital infrastructure for Asia-Pacific.”
— Denny Deng, President of Asia Pacific Carrier Business, Huawei

“High-speed broadband is no longer just about ‘getting online’ — it is the vital infrastructure upon which the entire AI revolution is being built. We view AI not merely as a tool, but as a primary engine for national competitiveness and a catalyst for improving the quality of life for all.”
— Wetang Phuangsup, Ph.D., Secretary-General, the National Board of the Digital Economy and Society, Thailand

“Three initiatives define the road to 2030. We must close the quality divide so the value of broadband reaches everyone. We must build AI-ready networks — 10G access, 800GE cores, intelligence end to end. And we must do it together, through shared standards.”
— Martin Creaner, Director General of WBBA

“Moving towards next-generation networks, network architectures must continue to evolve to deliver broader connectivity, superior quality, enhanced security, and greater intelligence. This evolution is essential for Net5.5G, positioning the network not simply as infrastructure, but as the foundation that enables AI, strengthens resilience and efficiency, and supports digital transformation across industries.”
— Dhruv Dhody, Industry Standardization Expert at Huawei, Chair of the IAB, IETF

“Across Asia-Pacific, fibre is extending beyond homes and offices into rooms, devices, and machines. By working together, we can accelerate fibre innovation and adoption to build truly AI-ready infrastructure.”
— Ilham Nandana, Chair of the Market Intelligence Committee, Fiber Network Council APAC (FNCAP)

“We fixed it before you feel it!  AIS is redefining premium home broadband by combining ultra-fast connectivity with AI-driven network intelligence and smart home ecosystem — delivering proactive, invisible service excellence that transforms connectivity into differentiated customer value and sustainable ARPU growth.”
— Thanit Chaiyaboonthanit, Head of Technology Department, Broadband Business, AIS

“Connecting the Unconnected: Affordable Broadband at Scale. Create equal access to global information and empower Indonesia’s digital society.”
— Shannedy Ong, CTO of Surge Indonesia

“Beyond Connectivity: Telkomsel is transforming into a true value creator. By leveraging our FBB market-leading footprint, we power growth through service excellence, customer loyalty, and a next-generation home ecosystem.”
— Stanislaus Susatyo, Director of Sales, Telkomsel Indonesia

“We stopped treating AI as an add-on feature. Instead, our approach at Globe starts with architecture, embedding intelligence into the very core of how we build, how we sell, and how we operate.
AI continuously monitors network health, customer behavior and service quality. Rather than waiting for failures, the system predicts degradation and initiates corrective actions. By maintaining minute-level awareness of network health, our systems automatically resolve 30% of all Wi-Fi issues without any human intervention.”
— Danny Theseira, Head of Broadband Business Group at Globe Telecom

“Huawei is driving the Optics-AI Synergy to foster their collaborative growth. Through AI-ON, operators could build an AI-centric all-optical target network and establish 1-5-20ms latency circles across the Asia Pacific region. AI-ON also supports efficient computing access and usage while delivering an ultimate network experience through gigabit/ultra-gigabit home broadband, accelerating the widespread adoption of AI services.”
— Kim Jin, Vice President & Chief Marketing Officer Optical Business Product Line, Huawei

“Connectivity is not just about technology. It is a lifeline, a platform for opportunity, and a driver of sustainable development. I believe the intersection of connectivity and artificial intelligence will shape the future of smarter, more resilient networks.”
— Dr. Cosmas Zavazava, Director of the Telecommunication Development Bureau, ITU

“Performance and user experience are the essential path to the next-generation WLAN. Based on standards and AI-driven innovation, let’s jointly explore the path to the future autonomous WLAN with all the stakeholders.”
— Dr. Crane H. Yang, Secretary-General, World WLAN Application Alliance (WAA)

“At the summit, NIDA and WBBA signed an MOU to accelerate next-generation network evolution and establish pioneering smart city benchmarks through the co-development of industry standards, the harmonization of global regulations, and the sharing of vertical industry insights.
NIDA focuses on advancing network architecture standards, while WBBA drives global consensus on broadband evolution. This natural strategic complementarity creates vast opportunities for future collaboration.”
— Joey Deng, Secretary-General of NIDA

“ION-2030 develops the global standard for next generation optical networks in the AI era. It provides exceptional AI application and service experience. The WBBA and ITU will jointly accelerate its development, and this is a unique opportunity for Asia-Pacific stakeholders to actively influence the future of optical broadband networks.”
— Dr. Marcus Brunner, Chief Expert Standardization, WBBA WG1 Chair and Vice-Chair of ETSI ISG F5G

“The transition into the AI era demands a high-quality, deterministic digital foundation. By releasing Net5.5G policy guidelines, Malaysia is accelerating the evolution of next-generation network standards based on IPv6, establishing an innovative infrastructure to unleash AI’s value and drive a prosperous digital economy for 2030.”
— Prof. Sureswaran Ramadass, Chair of APAC at IPv6 Council, Industry Partner of WBBA

“The digital economy is thriving across the Asia-Pacific region, with AI emerging as a core catalyst for intelligent transformation. China Mobile International (CMI) is driving regional growth by integrating China’s advanced AI capabilities with comprehensive communications, computing, and AI services. Moving forward, CMI will collaborate closely with industry partners to foster a shared, AI-driven future for the region.”
— Paul Lin, Managing Director of Commercial and Technology, Asia Pacific, China Mobile International

“Next-generation network infrastructure is the oxygen of the intelligent economy. By integrating cutting-edge 800G connectivity with quantum-safe security, HKT is laying the essential foundations to keep Hong Kong’s enterprises highly competitive, secure, and ready for the computing paradigm shifts of tomorrow.”
— Wilson Cheung, Vice President, Broadband Design & Cyber Security, HKT

“The evolution toward Net5.5G AI WAN is an important step in strengthening XLSMART’s transport network for the future. By progressively adopting AI-assisted operations, SRv6, SDN, service differentiation, and higher-capacity transport infrastructure, we are enhancing network intelligence, operational efficiency, and service resilience while supporting long-term sustainability. This transformation is a continuous journey that aligns with the industry’s vision of AI-native broadband networks. Through collaboration with our technology partners and the broader ecosystem, we will continue to develop capabilities that deliver better network performance and support Indonesia’s growing digital connectivity needs.”
— Regie Ginanjar, Head of Transport Autonomy & Orchestration, Transport Network Transformation, XLSMART

“For the AI era, Huawei upgrades the IP bearer network via security resilience, multi-dimensional awareness, and network autonomy. This empowers carriers to guarantee service experience, accelerate monetization, and enhance efficiency, ushering in a new chapter of intelligent connectivity.”
— Arthur Wang, Vice President of Data Communication Product Line, Huawei

A CONVERGING VIEW

Speakers agreed AI is shifting networks from connectivity to intelligent connectivity, as broadband, IP, computing and cross-border infrastructure converge to support innovation and coordination.

WBBA launched the AI-Net Certification, a global benchmark for national policy, industrial ecosystems and network intelligence. XLSmart was named first AI-Net Champion, and Indonesia was among the first with a certified operator, backed by its Net5.5G roadmap.

In another high-profile segment, WBBA Director General Martin Creaner presented the Gigacity Certification to KOMDIGI, SURGE, Telkomsel, AIS, TRUE, HKT and Globe, recognizing regional broadband pioneers.

 

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SOURCE HUAWEI

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Laifen Expands U.S. Retail Footprint with Costco Launch of Best-Selling SE Hair Dryer

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Starting July 18, Costco Members Can Shop Laifen’s Award-Winning Hair Dryer in Select Warehouse Locations Across the U.S.

NEW YORK, July 18, 2026 /PRNewswire/ — Laifen, ranked the world’s No.1 high-speed hair dryer brand, today announced the launch of its best-selling SE High-Speed Hair Dryer at select Costco warehouse locations, marking the brand’s largest U.S. retail expansion to date and bringing its award-winning haircare technology to Costco members across select U.S. markets.

The launch brings Laifen’s award-winning haircare technology to Costco, making it easier for consumers to experience the brand through one of the nation’s leading membership retailers. Laifen joins Costco’s growing portfolio of premium beauty and personal care brands. The initial rollout includes select Costco warehouse locations across the United States, with a strong presence across the Western U.S., including California, the Pacific Northwest and the Southwest.

Costco’s reputation for quality and its highly selective merchandising approach make this partnership especially meaningful. The Costco launch reflects Laifen’s continued expansion beyond direct-to-consumer channels as the brand accelerates its U.S. omnichannel retail strategy. “Costco represents an important milestone in our U.S. retail strategy,” said Romeo, General Manager of International Business of Laifen. “As more consumers seek salon-quality performance at an accessible price, we’re excited to make Laifen available through one of America’s most trusted retailers.”

Engineered to deliver professional-level performance in a sleek, lightweight design, the Laifen SE is powered by the brand’s proprietary high-speed brushless motor, delivering fast drying, reduced heat damage and smoother styling. An intelligent temperature control system continuously monitors airflow to help minimize frizz while protecting hair from excessive heat.

The Costco launch represents the next phase of Laifen’s U.S. retail expansion as the brand continues to grow beyond its direct-to-consumer and online channels. By expanding into one of the nation’s most trusted retailers, Laifen aims to broaden access to its category-disrupting haircare solutions while advancing its mission to bring more thoughtful design and everyday excellence into more homes.

The Laifen SE High-Speed Hair Dryer in White will be available at select Costco locations, while Costco.com shoppers will have access to additional color options including Purple and Pink, alongside the White model.

For more information on Laifen, please visit LaifenTech.com.

About Laifen: 

Founded in 2019, Laifen is a global personal care technology brand combining high-performance engineering with modern design across hair care, oral care, and grooming categories. Ranked the world’s No. 1 high-speed hair dryer brand by Euromonitor International, Laifen first gained recognition for its self-developed 110,000 RPM high-speed brushless motor, the proprietary technology behind its award-winning hair dryers.

Building on this innovation, Laifen has expanded its portfolio to include electric toothbrushes and shavers, delivering premium technology and elevated everyday experiences to consumers worldwide. Today, Laifen products and accessories are used by over 22 million households across more than 60 countries, supported by more than 600 patents and recognized with over 50 international design and innovation awards. Driven by continuous technological breakthroughs, Laifen is committed to making cutting-edge personal care technology more accessible to consumers around the world.

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Pillsbury Notice of Data Breach

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NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.

For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html

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SOURCE Pillsbury Winthrop Shaw Pittman LLP

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