RealtyTrac® has just released its Q2 Residential Loan Origination Report for 2015 which shows a 23 percent increase from a year ago.
“The rise in loan originations particularly the sharp rise in FHA purchase originations indicates the FHA premium reduction at the end of January really is having a big impact, pushing people off the fence to purchase,” said Daren Blomquist, vice president at RealtyTrac. “The average loan amount for FHA purchase loans increased from $187,718 in the first quarter of 2011 to $197,315 in the second quarter of 2015 (a 16 quarter high), as the lower FHA premium gave those buyers more buying power.”
RealtyTrac®’s report echoes the positive trends NJ Realtors reported in our 2015 Q2 Skinny report.
Read RealtyTrac®’s complete Press Release and watch NJ Realtors second quarter video below.