Report: Denver Metro Area Sees Highest Level of Mortgage Activity Since 2005 Due to Low Interest Rates
According to a new report from ATTOM Data Solutions, low interest rates have helped fuel a demand for mortgages not seen since 2005. Surprisingly, consumers haven’t been deterred by the COVID-19 pandemic
The Denver Post reports, “In metro Denver, there were 54,837 mortgage originations in the second quarter, including purchase mortgages, refinancings and home equity lines of credit. That’s the highest total since the third quarter of 2005, when there were 61,264 originations, numbers from ATTOM Data Solutions show.”
Todd Teta, Chief Product Officer for ATTOM Solutions, said in the report, “The second quarter of 2020 really was a tale of two markets for lenders. One saw a continued flood of homeowners refinancing their loans at lower interest rates while the other saw a drop in home-purchase and home-equity borrowing as the economy sagged under virus-related lockdowns.”