Tag: mortgage originations

The housing market continues to recover, with mortgage originations increasing 12 percent year over year, moving from $508 billion to $570 billion.

The latest quarterly credit trends analysis by Experian shows that mortgage originations increased by 10 percent over one year ago. More importantly, the data shows a 29 percent increase in home purchases from the prior quarter and a decrease in refinance activity. Additionally, home-equity lines of credit (HELOCs) increased significantly (30 percent over last year), providing further evidence of an improving real-estate market. Source: Mortgage originations increase by 10 percent from a year ago

The $478 billion in Q2 2013 mortgage originations is a 10 percent increase over a year ago ($436 billion) but a 7 percent decrease from the previous quarter ($515 billion) — primarily as a result of the slowdown in refinancing activity.

Providing more evidence of a housing recovery, Q1 2013 mortgage originations increased 16 percent year over year to $471 billion. The Midwest region delivered the strongest annual gain, with a 29 percent increase over the previous year.

To learn the status of Americans' current credit card spending, Credit.com recently compiled a list of the states with the highest average bankcard balance per consumer in the third quarter of 2012. While several Northeastern states dominated the list, Alaska took first place, with an average bankcard balance per consumer of $5,572. On the other end of the spectrum, North Dakota and Iowa had the lowest bankcard balances, at $3,595 and $3,624, respectively.

Mortgage origination volumes increased to $427 billion in Q4 2011 – a 31 percent quarterly gain. However, overall 2011 originations of $1.35 trillion were 16 percent lower than 2010 volumes. Sign up to attend our upcoming Webinar, which will focus on current credit trends and feature a closer look at the overleveraged consumer. Source: Experian-Oliver Wyman Market Intelligence Reports.

Even as interest rates remain at near-record lows, mortgage originations declined for the second quarter in a row in Q2 2011 to $268 billion, a 19 percent decline over the previous quarter. Refinance activity that spurred originations in 2010 has not been as prevalent this year. Listen to our recent Webinar on consumer credit trends and retail spending. Source: Experian-Oliver Wyman Market Intelligence Reports.