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2019 DMS Consumer Finance Report On Loan Amount

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2019 Purchase Mortgage Loan Amount Snapshot Report 2 Overview The 2019 Purchase Mortgage Loan Amount Snapshot Report, published by DMS Consumer Finance ™ , highlights purchase mortgage market trends for the period of January 2019-December 2019. Contents • Report Highlights • Average Loan Amount By Region & Division • Average Loan Amount By Month • Potential Impact Of Coronavirus On 2020 Home Sales • Definition Of Terms Used Within This Report About The Data Used For This Report The data used for this report comes from a set of 2019 inquiries submitted by consumers seeking to be matched with lenders for mortgage loans. Not all inquiries submitted were matched to mortgage lenders. Only inquiries with consumer-estimated credit scores of "fair" or better were included in the data set used for this report. Report Highlights Interest rates fell throughout 2019, beginning the year at 4.51% for a 30-year fixed-rate mortgage and falling to 3.72% by December, spurring home purchase activity last year. Anticipated average purchase loan amounts peaked in June at $229,054, up 28% compared to the low point of $178,441, only three months earlier in March 2019. Average anticipated loan amounts were highest in the West and lowest in the Midwest in 2019, consistent with 2018 regional rankings. Pacific states led the western region with an average anticipated loan amount of $263,194, 32% higher than the national average of $199,913 and aligning with National Association of Realtors (NAR) research on median home values.

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