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HOME-MORTGAGE LENDING NEAR TWO-DECADE LOW AS SLUMP CONTINUES ACROSS U.S. DURING FOURTH QUARTER

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Residential Loans Drop Another 14 Percent; Purchase, Refinance and Home-Equity Lending All Decline

IRVINE, Calif., Feb. 29, 2024 /PRNewswire/ — ATTOM, a leading curator of land, property, and real estate data, today released its fourth-quarter 2023 U.S. Residential Property Mortgage Origination Report, which shows that 1.35 million mortgages secured by residential property (1 to 4 units) were issued in the United States during the fourth quarter, representing a 13.8 percent decline from the prior quarter. The drop-off marked the tenth in the last 11 quarters.

The fourth-quarter fallback left total residential lending activity down 16.5 percent from a year earlier and 67.7 percent from a high point hit in the first quarter of 2021. It came amid another period of elevated home prices and mortgage rates along with low supplies of homes for sale.

Ongoing declines in lending activity during the fourth quarter resulted from losses in all major categories of residential lending. Purchase-loan activity went down another 18.4 percent quarterly, to about 618,000, while refinance deals slumped 7.9 percent, to 488,000. Home-equity credit lines sank 12.7 percent, to 241,000.

Measured monetarily, lenders issued $417.4 billion worth of residential mortgages in the fourth quarter of 2023. That was down 14.9 percent from the third quarter of 2023 and 18.6 percent from the fourth quarter of 2022.

The different pace of change among various loan types helped raise the portion of all residential mortgages represented by refinance packages back above one-third, although that level remained far less than where it was three years ago before interest rates started to climb above historically low levels. Purchase loans continued to slip back below half of all mortgages but were still the most common form of mortgage. Home-equity loans dipped further below 20 percent of all activity.

“Multiple powerful forces continued to conspire against the mortgage industry during the fourth quarter, slicing back huge portions of their business,” said Rob Barber, CEO at ATTOM. “There were signs during the peak buying season of 2022 that things were starting to turn around, with increases in purchase, refinance and HELOC deals. That could happen again this year as we head into this year’s peak period, especially with interest rates coming down recently. But the fourth-quarter numbers revealed continued gloomy times for lenders, no matter how you sliced the pie.”

Home-mortgage lending took another fall at the end of 2023 as average interest rates for 30-year fixed loans rose to between 7 percent and 8 percent. That further drove up home ownership costs at a time when record home prices in most of the country already were unaffordable, or a significant financial stretch, for average wage earners. Purchase lending took an additional hit from low supplies of homes for sale that helped reduce the number of properties available for potential mortgages.

Total lending activity down in more than 90 percent of nation 
Banks and other lenders issued a total of 1,346,479 residential mortgages in the fourth quarter of 2023, down from 1,562,600 in the third quarter of 2023. The fallback resumed a nearly three-year run of declines that was broken only by a spike in the second quarter of last year.

The latest total also was down annually from 1,612,777 in the fourth quarter of 2022, and from a recent high point of 4,164,755 hit three years ago.

A total of $417.4 billion was lent to homeowners and buyers in the fourth quarter, which was down from $490.3 billion in the prior quarter and down from $512.7 billion in the fourth quarter of 2022. The latest figure stood at barely more than one-third of the recent quarterly peak of $1.29 trillion hit in the second quarter of 2021.

Overall lending activity dipped lower from the third to the fourth quarter of last year in 184, or 96 percent, of the 191 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 October through December of 2023.

Total lending also remained down from the fourth quarter of 2022 in 183, or 96 percent, of the metro areas analyzed. It was off by at least 15 percent annually in slightly more than half of those markets.

The largest quarterly decreases were in Anchorage, AK (total lending down 45.3 percent from the third quarter of 2023 to the fourth quarter of 2023); St. Louis, MO (down 42 percent); Charleston, SC (down 33.5 percent); Rochester, NY (down 31.5 percent) and South Bend, IN (down 25.7 percent).

Aside from St. Louis and Rochester, metro areas with a population of least 1 million that had the biggest decreases in total loans from the third quarter of 2023 to the fourth quarter of 2023 were Raleigh, NC (down 22.6 percent); Portland, OR (down 22.1 percent) and Denver, CO (down 21.8 percent).

The biggest quarterly increase, or the smallest decreases, among metro areas with a population of at least 1 million came in Buffalo, NY (total lending up 19 percent from the third to the fourth quarter of 2023); Atlanta, GA (down 3 percent); Washington, DC (down 3.6 percent); Orlando, FL (down 5.2 percent) and Fresno, CA (down 5.7 percent).

Refinance mortgage originations down after two straight gains
Lenders issued 487,671 residential refinance mortgages in the fourth quarter of 2023, down from 529,683 in the third quarter. The fallback followed increases in the prior two quarters.

The latest figure was down 5.3 percent from 514,915 in the fourth quarter of 2022 and was 82.2 percent less than a peak of 2,742,931 reached in early 2021.

The $146.2 billion dollar volume of refinance packages in the fourth quarter of 2023 was down 7 percent from $157.2 billion in the third quarter and 13.6 percent from $169.3 billion in the fourth quarter of 2022.

Refinancing activity shrank quarterly in 157, or 82 percent, of the 191 metro areas around the U.S. with enough data to analyze. It was down annually in 123, or 64 percent, of those metros.

The largest quarterly decreases were in Anchorage, AK (refinance loans down 46.9 percent from the third quarter to the fourth quarter of 2023); St. Louis, MO (down 39.2 percent); South Bend, IN (down 35 percent); Rochester, NY (down 31.5 percent) and Springfield, IL (down 25.4 percent).

Aside from St. Louis and Rochester, metro areas with a population of least 1 million where refinance activity decreased most from the third quarter to the fourth quarter of 2023 were Memphis, TN (down 23 percent); Raleigh, NC (down 21.7 percent) and Tulsa, OK (down 17.1 percent).

Metro areas with a population of least 1 million and the largest increases in the number of refinance loans from the third quarter to the fourth quarter of 2023 were Buffalo, NY (up 25.9 percent); Washington, DC (up 16.3 percent); Las Vegas, NV (up 11.8 percent); Baltimore, MD (up 6.7 percent) and San Diego, CA (up 6.2 percent).

Refinance packages comprised 36.2 percent of all loan originations in the fourth quarter of 2023. That was up from 33.9 percent in the prior quarter and from 31.9 percent in the fourth quarter of 2022, although still far less than the 65.9 percent portion in the first quarter of 2021.

Purchase mortgages dip again throughout U.S. after a brief surge
Loans issued to home buyers fell back in the last few months of 2023 for the second straight quarter after a surge of nearly 30 percent in the Spring of last year.

The latest total of 618,244 was down from 757,366 in the third quarter of 2023. It was also down 20.2 percent from 774,493 a year earlier and almost 60 percent from a high point hit in the Spring of 2021.

The $227.6 billion dollar volume of purchase loans in the fourth quarter of 2023 was down 20.1 percent from $284.7 billion in the third quarter and 18.9 percent from $280.6 billion in the fourth quarter of 2022.

Residential purchase-mortgage originations decreased quarterly in 183 of the 191 metro areas in the report (96 percent) and annually in 93 percent of those markets.

The largest quarterly decreases were in Sioux Falls, SD (purchase loans down 66.8 percent from the third to the fourth quarter of 2023); St. Louis, MO (down 46.2 percent); Anchorage, AK (down 44.1 percent); Birmingham, AL (down 40 percent) and Charleston, SC (down 39.3 percent).

Home-purchase borrowing comprised 45.9 percent of all loan originations in the fourth quarter of 2023, down from 48.5 percent in the prior quarter and 48 percent in the fourth quarter of 2022. But the latest level was still way up from 29.6 percent in early 2021 when refinance deals were dominating the lending business.

HELOC lending also falls in most markets
Home-equity lines of credit (HELOCs) also decreased in the fourth quarter of 2023, declining to 240,564 from 275,551 in the third quarter. The latest figure was down 25.6 percent from 323,369 a year earlier. The latest decrease marked the second in a row after a brief uptick last Spring.

The $43.6 billion volume of HELOC loans in the fourth quarter of 2023 was down from $48.4 billion in the third quarter, a 9.8 percent decline. The latest level also was down annually, by 30.6 percent.

HELOCs comprised 17.9 percent of all loans in the most recent quarter. That was down from 20.1 percent in the fourth quarter of 2022 but still four times the level recorded in the early part of 2021.

HELOC mortgage originations decreased from the third quarter of 2023 to the fourth quarter of 2023 in 87 percent of the metro areas analyzed. The largest quarterly decreases in metro areas with a population of at least 1 million were in Honolulu, HI (down 36.3 percent from the third to the fourth quarter of 2023); St. Louis, MO (down 34.3 percent); Rochester, NY (down 31.6 percent); New Orleans, LA (down 23.9 percent) and Milwaukee, WI (down 22.7 percent).

The largest quarterly increases in HELOC activity in metro areas with a population of at least 1 million and sufficient data to analyze came in Kansas City, MO (up 15.4 percent); Dallas, TX (up 6.7 percent); San Diego, CA (up 6.4 percent); Houston, TX (up 5.2 percent) and Washington, DC (up 4.9 percent).

FHA loan portions go up again while VA lending decreases
Mortgages backed by the Federal Housing Administration (FHA) rose as a percentage of all lending for the ninth straight quarter. They accounted for 211,184, or 15.7 percent, of all residential property loans originated in the fourth quarter of 2023. That was up from 15.1 percent in the third quarter of 2023 and 11.9 percent in the fourth quarter of 2022.

Residential loans backed by the U.S. Department of Veterans Affairs (VA) totaled 58,931, or 4.4 percent, of all residential property loans originated in the fourth quarter of 2023. That was the down from 4.8 percent in the previous quarter and from 5.3 percent a year earlier.

Purchase loan amounts and down payment percentages both decline
As the national median home price decreased in the fourth quarter of 2023, typical single-family home loan amounts and median down-payment percentages also ticked lower.

Among homes purchased with financing in the fourth quarter of 2023, the median loan amount was $305,900. That was down 4.1 percent from $319,113 in the prior quarter, although still up annually by 1.7 percent, from $300,700.

The median down payment of $32,500 on single-family homes purchased with financing in the fourth quarter of 2023 also was down, by 7.1 percent, from $35,000 in the third quarter of 2023. The latest figure represented 9 percent of the median home price, down slightly from 9.2 percent in the third quarter but unchanged from the fourth quarter of 2022.

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 Cloud, bulk file licenses, property data APIs, real estate market trends, property 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

View original content to download multimedia:https://www.prnewswire.com/news-releases/home-mortgage-lending-near-two-decade-low-as-slump-continues-across-us-during-fourth-quarter-302075023.html

SOURCE ATTOM

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ToolDance Unveils X1 Smart Desktop CNC Mill at IFA 2026

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September 5, 2026

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BERLIN, Sept. 4, 2026 /PRNewswire/ — ToolDance, a technology company focused on intelligent desktop CNC solutions, officially unveiled its flagship product ToolDance X1 Smart Desktop CNC Mill at IFA 2026 in Berlin, Germany.

On the first day of the exhibition, ToolDance attracted significant attention from professional users, makers, and industry audiences with live demonstrations showcasing the complete workflow from preparation to finished parts. Learn more about the X1 Smart Desktop CNC Mill.

“What has been especially encouraging at IFA is seeing people watch the X1 turn raw material into a finished part and immediately start thinking about how they could use it in their own work,” said Will Wang, Founder and CEO of ToolDance. “Our goal is to bring professional CNC capabilities to makers, engineers, and small businesses in a more accessible desktop format, while retaining the performance required for real manufacturing tasks.”

ToolDance’s participation in IFA 2026 reflects the company’s commitment to making industrial-grade manufacturing capabilities more accessible in personal workspaces.

The X1 features a 1,500W permanent magnet synchronous motor (PMSM) spindle that maintains strong torque at lower spindle speeds for demanding roughing operations and reaches speeds of up to 24,000rpm for precise finishing. It delivers positioning repeatability of ±0.01mm.

Its three-axis work envelope measures 400 × 265 × 180mm, providing room for functional parts such as fixtures, molds, machine plates, and housings, as well as multi-part production in a single setup. Support for tool shanks up to 10mm expands the range of cutters available for heavier material removal and larger tools.

The X1 supports both dry machining and flood-coolant machining across a range of metals, wood, and engineering plastics. Continuous coolant flow helps control heat, clear chips, and support stable cutting in demanding metal applications. Its cast aluminum-alloy frame is reinforced along critical load paths to increase rigidity and reduce vibration, supporting stable machining, consistent accuracy, and clean surface finishes.

On the software side, ToolDance Studio, developed in-house by ToolDance, is designed to lower the barrier to CNC machining through a streamlined three-step workflow from model to finished part.

Its Design for Manufacturability (DFM) analysis checks geometry, tool access, stock, and machining constraints to help users identify potential issues before cutting begins. The Workholding Guidance System recommends workholding setups for each operation based on part geometry and machining parameters, with step-by-step visual guidance. Its image-to-model feature can also generate editable geometry from photographs or reference images.

A nine-tool automatic tool changer (ATC) automates tool changes across operations ranging from roughing and drilling to finishing, chamfering, threading, and engraving, reducing the need for manual tool changes during multi-operation jobs.

The X1 is also designed as an expandable platform. With the optional simultaneous four or five-axis module, it can machine complex parts, curved surfaces, and fine details in a single setup, reducing re-clamping while maintaining alignment and accuracy.

The ToolDance X1 will remain on display at Hall 17, Booth H17-205 at Messe Berlin from Sept. 4–8, 2026, with live machining demonstrations taking place throughout the event. The product is scheduled to launch on Kickstarter in October 2026.

For more information, visit: https://www.tooldance.ai

About ToolDance

ToolDance is a technology company focused on  smart desktop CNC solutions. With the vision of “Your Personal Factory,” ToolDance integrates hardware, software, and automation to make industrial-grade manufacturing capabilities more accessible, helping makers, engineers, professionals, and small businesses turn ideas into physical products more efficiently.

Note: Please translate the content first and provide a preview. The photos will be provided on Sept. 4.

Media Contact: info@tooldance.ai

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Amwell Receives Frost & Sullivan’s 2026 United States Technology Innovation Leadership Recognition for Technology-Enabled Care Platforms

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September 5, 2026

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Amwell® is transforming virtual care delivery through its unified Amwell Platform, combining interoperability, clinical integration, and intelligent orchestration to improve access, efficiency, and outcomes.

SAN ANTONIO, Sept. 5, 2026 /PRNewswire/ — As healthcare organizations move beyond fragmented telehealth solutions toward connected virtual care models, Amwell is helping redefine how digital care is delivered at scale. Frost & Sullivan is pleased to recognize Amwell with the 2026 United States Technology Innovation Leadership Recognition in the Technology-Enabled Care Platforms industry for its ability to address healthcare fragmentation through a unified platform that connects patients, health plan members, clinicians, and partner ecosystems across the care continuum.

Frost & Sullivan evaluates companies through a rigorous benchmarking process across two core dimensions: strategy effectiveness and strategy execution. Amwell excelled in both, demonstrating its ability to align strategic initiatives with evolving healthcare needs while executing with flexibility, scalability, and measurable customer impact. “The combination of reliability, flexibility, and clinically integrated workflows positions the Amwell Platform as a strategic enabler for organizations seeking to reduce fragmentation, improve member engagement with covered programs, expand access to care, and create more connected healthcare experiences,” said Sagar Mukhekar, Industry Analyst, Frost & Sullivan.

Guided by a strategy centered on connected care, interoperability, and continuous, digital innovation, Amwell has positioned the Amwell Platform as an operating layer for next-generation healthcare delivery. Rather than relying on disconnected point solutions, the platform integrates technology, services, and clinical intelligence to orchestrate personalized care experiences across virtual primary care, urgent care, behavioral health, chronic condition management, and specialized digital programs.

Backed by 20 years of technology-enabled care innovation, more than 90 million covered lives, and over 38.7 million virtual visits, Amwell continues to help health plans and healthcare organizations modernize digital care delivery at scale.

“As healthcare becomes more digital, it risks becoming more fragmented. Health plans need more than point solutions. They need enterprise infrastructure, clinical integration, and an open platform that brings partners and programs together. Our vision at Amwell is that technology creates value when it improves access, engagement, quality, and efficiency, and produces measurable clinical and business outcomes. We’re honored by this recognition from Frost & Sullivan,” said Dan Zamansky, Chief Product and Technology Officer at Amwell.

Amwell’s enterprise scale includes supporting the digital transformation of the Defense Health Agency’s Military Health System, serving approximately 9.6 million beneficiaries. The company’s commitment to measurable outcomes is also reflected in a landmark National Institute of Mental Health (NIMH)-funded study, published in Nature Human Behaviour and among the largest studies of its kind. The study found that students offered SilverCloud® by Amwell® engaged in mental healthcare at more than double the rate of traditional care, experienced lower rates of mental health disorders, and generated an estimated $1.18 million in avoided costs for the study population.

The company further differentiates its platform through intelligent orchestration and navigation, helping guide members to appropriate programs while giving clinicians visibility across care plans. Amwell also evaluates integrated third-party programs for clinical effectiveness, scalability, and enterprise readiness.

Frost & Sullivan commends Amwell for setting a high standard in competitive strategy, execution, and technological innovation. The company’s unified approach to digital care is helping reduce fragmentation, improve access, strengthen operational efficiency, and support more equitable and sustainable healthcare delivery.

Each year, Frost & Sullivan presents the Technology Innovation Leadership Recognition to a company that demonstrates outstanding strategy development and implementation, resulting in measurable improvements in market share, customer satisfaction, and competitive positioning. The recognition identifies forward-thinking organizations that are reshaping their industries through innovation and growth excellence.

Frost & Sullivan Best Practices Recognition

Frost & Sullivan’s Best Practices Recognitions honor companies across regional and global markets that exhibit exceptional achievement and consistent excellence in areas such as leadership, technological innovation, customer experience, and strategic product development. Each recognition is the result of a rigorous analytical process in which Frost & Sullivan industry experts benchmark performance through comprehensive interviews, deep-dive analysis, and extensive secondary research. The goal is to identify true best-in-class organizations that are driving transformative growth and setting new industry standards.
Contact us: Start the discussion.

Contact:
Ashley Shreve
E: ashley.weinkauf@frost.com 

SOURCE Frost & Sullivan

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MiniTool Released MovieMaker 8.9 with Advanced Keyframe Animation

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September 5, 2026

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VANCOUVER, BC, Sept. 4, 2026 /PRNewswire/ — MiniTool Software Limited has released MiniTool MovieMaker 8.9, a significant update to its video editing software. The latest version focuses on empowering creators with advanced keyframe animation controls, a more streamlined installation experience, and an optimized export button for a smoother experience.

Precise Control with Keyframe Animation

The hallmark of MiniTool MovieMaker 8.9 is the introduction of keyframe animation for video, images, and elements. Users can now set keyframes for position, scale, and rotation at different points. As a result, they can easily generate smooth, cinematic motion effects.

The position parameter supports accurate X- and Y-axis adjustments, allowing flexible horizontal and vertical movement of clips to achieve natural screen scrolling and displacement effects. The scale feature allows for seamless zoom-in and zoom-out transitions, enabling users to zoom in on a clip and highlight key visual elements. Coupled with rotation control, which supports precise angle adjustments, the three tools work together to deliver smooth, dynamic visual effects.

Designed with simplicity and accessibility in mind, this update brings intuitive keyframe animation tools without complex settings. It balances powerful editing capabilities and ease of use, allowing users to easily bring static photos to life and create custom movements for high-quality visual content.

Installation Package Optimization for Faster Setup

MiniTool MovieMaker 8.9 places a strong emphasis on the installation package. In this latest release, the development team has reduced the overall installation package size, enabling a faster, more streamlined download and setup experience. This enhancement not only saves disk space but also improves application launch speeds. As a result, creators can quickly run the software and start working on their projects with minimal delay.

Enhanced Export UI for a Seamless Final Step

The final export stage is crucial to the editing workflow. This time, MiniTool MovieMaker 8.9 brings a new export button with a redesigned interface. This update optimizes the export button and provides intuitive guidance. Therefore, users can quickly locate the button for exporting their projects, whether they are absolute beginners or experienced editors.

About MiniTool MovieMaker

MiniTool MovieMaker is an easy-to-use video editing program designed for beginners, featuring a clean interface and a variety of effects, text templates, stickers, filters, and transitions for quick video creation.

The software offers a flexible multi-track timeline where users can layer and independently manage video tracks and audio tracks to create complex compositions, such as picture-in-picture (PiP) effects and video collages. Users can also place visual elements on different layers and lock tracks to prevent accidental edits.

More importantly, this editing tool can export videos in 1080P or 4K for free and without watermarks, ensuring high-quality, professional-looking results.

About MiniTool® Software Ltd.

MiniTool® Software Ltd. is a software development company specializing in providing software services across multiple fields, including video editing, screen recording, video conversion and compression, video enhancement, as well as disk partition management.

View original content to download multimedia:https://www.prnewswire.com/news-releases/minitool-released-moviemaker-8-9-with-advanced-keyframe-animation-302869995.html

SOURCE MiniTool® Software Limited

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