As the housing market booms, lenders have faced a significant uptick in mortgage demand. Low-interest rates are fueling a frenzy. Mortgage applications for home purchases jumped 22% in the second quarter compared to the first quarter and are up 52% compared to a year ago, according to ATTOM Data Solutions’ Q2 2021 U.S. Residential Property Mortgage Origination Report.
The largest quarterly increases in residential purchase mortgage originations occurred in Virginia Beach, Va. (up 103.9% from the first quarter to the second quarter of this year); Peoria, Ill. (up 90.9%); Champaign, Ill. (up 75.4%); Erie, Pa. (up 71.5%); and Fargo, N.D. (up 70.4%).
Which lenders are fielding the most business? Quicken Loans continues to dominate. The following are the lenders with the highest number of residential purchase mortgage applications in the second quarter.
Source: “Top 10 Home Purchase Mortgage Lenders in Q2 2021,” ATTOM Data Solutions (Aug. 20, 2021)
