St Louis Home Loan Originations Fall to a 12-Year Low

During the 4th quarter of 2022, 7,622 home buyers in St Louis applied for a home mortgage according to the latest report from ATTOM Data. According to the report, this is the lowest number of mortgage applications in a quarter from home buyers in St Louis since the 1st quarter of 2011 when there were just 5,629 applications.  Mortgage applications to purchase a home peaked in St Louis in the 3rd quarter of 2005 when there were 18,002 applications.

As the chart below illustrates, the drop in St Louis homeowners refinancing their mortgage is even more dramatic.  During the last quarter of 2022, 4,208 homeowners refinanced their existing mortgage marking the lowest number for a quarter in St Louis since AATOM began tracking the data back in 2000.  The refinancing boom in St Louis was during the 3rd quarter of 2003 when 54,281 St Louis homeowners refinanced their mortgage.

HELOC’s (home-equity line of credit) are down in St Louis as well.  During the 4th quarter of 2022, 3,166 St Louis homeowners took out a HELOC compared with 15,317 that did so during the HELOC peak in Q3 2003.  HELOC’s hit their low point during the 3rd quarter of 2000 when just 356 were originated.

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St Louis Mortgage Originations In St Louis – Q4- 2022

(click on chart for Live, Interactive chart)

St Louis Mortgage Originations In St Louis - Q4- 2022

 

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