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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 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

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SOURCE ATTOM

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DBS named Asia’s Best Digital Bank by Euromoney, recognised for its AI leadership and responsible innovation

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July 20, 2026

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DBS generated ~SGD 1 billion in economic value from data analytics and AI/ML initiatives in 2025,
demonstrating measurable impact from AI in banking

As an AI-enabled bank with a heart, DBS is scaling AI responsibly, including through strengthened
governance and controls

SINGAPORE, July 20, 2026 /PRNewswire/ — DBS has been named Asia’s Best Digital Bank at the Euromoney Awards for Excellence 2026, underscoring the bank’s leadership in harnessing artificial intelligence and digital innovation to shape the future of banking. This is in addition to three other regional wins, including Asia’s Best Digital Bank for Corporates, Asia’s Best Bank for Customer Experience for the second consecutive year, and ASEAN’s Best Bank.

Recognised for demonstrating measurable business impact from AI in banking

Being named “Asia’s Best Digital Bank” reflects DBS’ longstanding commitment to reimagining banking through technology and its mission to be an AI-enabled bank with a heart. Across the organisation, DBS has embedded AI into customer and employee journeys, moving beyond experimentation to driving transformation at scale. In 2025, over 2,000 models and more than 430 use cases had been deployed across the bank. In all, DBS’ data analytics and AI/ ML initiatives generated approximately SGD 1 billion in economic value.

“In 2025, artificial intelligence was a theme discussed widely across investor calls in the banking sector, but few institutions demonstrated its value with the same clarity and consistency as DBS,” Euromoney said in its award citation. “At the core of this performance is a bank-wide capability to move ideas from experimentation to scaled deployment with discipline and speed.”

DBS scales AI responsibly to deliver trusted banking experiences

DBS’ digital transformation has evolved from reimagining customer journeys to transformative initiatives which have enterprise-wide impact, or Operating Model Transformations (OMTs). OMTs involve re-engineering processes for human and AI collaboration; leveraging tools to enhance workflows; reskilling employees for new and augmented roles; and implementing simplified, adaptive organisational structures. These efforts are helping employees reduce toil, improve productivity and focus on higher-value activities, while enabling the bank to scale innovation across its businesses.

“As banking enters a new phase shaped by generative and agentic AI, DBS has moved early, demonstrating what scaled, real-world application can look like,” Euromoney noted.

Central to DBS’ approach is a strong emphasis on trust and responsible adoption. As the bank scaled its use of generative and agentic AI, it strengthened governance frameworks and implemented enterprise-wide controls to manage AI risks and ensure that AI is deployed in a safe and ethical manner.

Tan Su Shan, DBS CEO, said: “We are honoured to be named Asia’s Best Digital Bank by Euromoney. This recognition reflects our leadership in harnessing AI, while staying grounded in trust, empathy, safety and governance. As we expand the use of agentic AI across the bank, we will continue investing in our people and technology infrastructure to deliver seamless and more intuitive experiences for our customers.”

 DBS has been recognised over the years for its digital leadership. Euromoney named DBS World’s Best Digital Bank in 2016, 2018 and 2021, and most recently, Asia’s Best Digital Bank in 2025. Global Finance also recognised DBS as the inaugural World’s Best AI Bank in 2025 and has named it World’s Best Corporate Digital Bank twice. This latest accolade reinforces DBS’ longstanding leadership in reimagining banking through technology and innovation.

About DBS

DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 17 consecutive years from 2009 to 2025.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.

DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com

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SOURCE DBS BANK LTD

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China-Europe Youth Exchange Campaign: When Fashion Meets Football — A Green Pitch Appointment for Cross-Cultural Dialogue

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July 19, 2026

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BEIJING, July 19, 2026 /PRNewswire/ — On July 18, in Rongjiang County, Guizhou Province, China, the much-anticipated Guizhou Village Super League staged several thrilling grassroots football matches, accompanied by a one-of-a-kind football culture creative showcase.

The showcase, themed Common Love, blended fashion runway elements with local music and dance, presenting 16 distinctive football-themed jersey designs. These featured Italian architectural graffiti, Brazilian color blocks, as well as motifs of the Great Wall, pandas, Chinese auspicious clouds, and ethnic patterns. The outfits were modeled by over 20 young people from diverse walks of life in Guizhou, while the designs themselves were contributed by more than 100 youth participants from over 20 countries and regions during the China-Europe Youth Exchange Campaign: When Fashion Meets Football.

Launched by the China Media Group, European and Latin American Languages Programming Center, the campaign took football as a shared global language. Through youth creative workshops and interactive exchanges, it encouraged young people worldwide to harness AIGC tools to design football jersey patterns, thereby deepening mutual understanding and strengthening friendship.

This initiative drew enthusiastic participation from youth across the globe, who engaged in online dialogues on sports culture and AI-driven creativity. Experts such as Ana Vasques, Executive President, IETI Artificial Intelligence & Creative Design branch; Giulio Cuomo, Professor of Video Production and AI at Accademia Italiana; and Dr. Zhang Youyu, Distinguished Research Fellow at Peking University, shared their insights based on the campaign’s outcomes. They emphasized that football has long transcended the realm of sport, evolving into a cultural symbol that embodies diverse civilizations. Meanwhile, the innovative application of artificial intelligence is opening new pathways for cross-cultural dialogue among global youth.

Video – https://www.youtube.com/watch?v=JhzZPHPk8IA

Photo – https://mma.prnewswire.com/media/3006669/20260719205937_131_59.jpg

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Singtel Receives Four Frost & Sullivan 2026 Recognitions for Leadership in Enterprise Connectivity, Cybersecurity, and Digital Transformation

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July 19, 2026

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The recognitions highlight Singtel’s leadership in secure connectivity, network transformation, IoT innovation, and cybersecurity, delivering customer value through intelligent digital infrastructure and AI-enabled enterprise services.

SAN ANTONIO, July 20, 2026 /CNW/ — Frost & Sullivan is pleased to honor Singtel with the 2026 Southeast Asia IoT Connectivity Service Provider Company of the Year, 2026 Singapore Network Transformation Customer Value Leadership, 2026 Singapore Cybersecurity Services Company of the Year, and 2026 Singapore SD-WAN and SASE Service Provider Company of the Year recognitions. These acknowledgements reflect Singtel’s outstanding achievements in delivering secure, intelligent, and scalable digital infrastructure that enables enterprises to modernize operations, simplify complexity, and accelerate digital transformation across Singapore and Southeast Asia. They underscore the company’s consistent leadership in strategy execution, customer value creation, and innovation across enterprise connectivity, cybersecurity, software-defined networking, and IoT connectivity services.

Frost & Sullivan evaluates companies through a rigorous benchmarking process across two core dimensions: strategy effectiveness and strategy execution. Singtel excelled in both, demonstrating its ability to anticipate evolving enterprise requirements while consistently translating long-term vision into measurable customer outcomes. Through platforms such as Singtel CUBΣ (CUBE) and its multidomestic IoT connectivity architecture, the company continues to unify networking, cybersecurity, automation, and AI-driven intelligence into integrated solutions that address the growing complexity of hybrid, multicloud, and connected environments. “Singtel has established itself as a benchmark for enterprise digital infrastructure by converging connectivity, cybersecurity, network intelligence, and IoT orchestration into a unified, customer-centric ecosystem. Its disciplined execution, platform-led innovation, and commitment to simplifying complex enterprise environments continue to strengthen operational resilience and deliver sustained value for organizations across the region,” said Kenny Yeo, Director at Frost & Sullivan.

Guided by a long-term strategy focused on digital innovation, intelligent infrastructure, and customer-centric transformation, Singtel has moved well-beyond traditional telecommunications to a trusted technology partner for enterprises navigating increasingly connected and data-driven environments. Its strategic investments in AI-enabled operations, cloud-native platforms, secure connectivity, and ecosystem partnerships enable organizations to modernize critical infrastructure while maintaining the flexibility to support future business growth.

The company’s strategic agility and sustained investment in integrated digital platforms have enabled it to scale innovative services across local, regional, and global enterprise environments. Innovation remains central to Singtel’s approach through solutions including the CUBΣ connected intelligence platform, multidomestic IoT connectivity powered by eSIM orchestration, managed cybersecurity services, AI-driven network automation, and network-as-a-service capabilities. These solutions simplify network and security management, strengthen cyber resilience, improve operational visibility, and provide enterprises with scalable, secure, and high-performing connectivity across cloud, edge, IoT, and hybrid infrastructures.

By streamlining service delivery through intelligent automation, centralized orchestration, proactive monitoring, and flexible managed and co-managed service models, Singtel continues to help organizations reduce operational complexity while improving service reliability and business agility. Its ability to integrate best-of-breed technologies in a unified operational framework, combined with strong regional network ownership and localized expertise, enables customers to confidently scale digital initiatives while maintaining security, governance, and operational excellence.

Frost & Sullivan commends Singtel for setting a high standard in competitive strategy, execution, and customer value across multiple technology domains. By combining intelligent networking, secure digital infrastructure, AI-enabled operations, and cross-border IoT capabilities in an integrated platform strategy, the company is shaping the future of enterprise connectivity while helping organizations build resilient, future-ready digital ecosystems.

Each year, Frost & Sullivan presents its Company of the Year and Customer Value Leadership recognitions to organizations that demonstrate outstanding strategy development and implementation, resulting in measurable improvements in customer satisfaction, competitive positioning, and business performance. These recognitions honor forward-thinking companies that continuously raise industry standards through innovation, operational excellence, and long-term value creation.

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:
Tarini Singh
E: Tarini.Singh@frost.com

 

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SOURCE Frost & Sullivan

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