U.S. refinance mortgage originations 2023

In the third quarter of 2023, the refinance mortgage originations of one-to-four family housing in the United States plummeted to approximately 81 billion U.S. dollars. This was substantially lower than the market peak of 933 billion U.S. dollars in the final quarter of 2020. Refinance mortgage originations were less than 20 percent of total mortgage originations in the third quarter of 2023.

Total mortgage originations for home refinancing in the United States from 1st quarter 2000 to 3rd quarter 2023 (in billion U.S. dollars)

Characteristic	Mortgage originations in billion U.S. dollars
Q3 2023	81
Q2 2023	92
Q1 2023	66
Q4 2022	66
Q3 2022	92
Q2 2022	201
Q1 2022	308
Q4 2021	515
Q3 2021	562
Q2 2021	648
Q1 2021	850
Q4 2020	933
Q3 2020	721
Q2 2020	636
Q1 2020	335
Q4 2019	436
Q3 2019	315
Q2 2019	167
Q1 2019	111
Q4 2018	103
Q3 2018	113
Q2 2018	120
Q1 2018	131
Q4 2017	168
Q3 2017	155
Q2 2017	145
Q1 2017	148
Q4 2016	265
Q3 2016	332
Q2 2016	242
Q1 2016	161
Q4 2015	197
Q3 2015	158
Q2 2015	226
Q1 2015	195
Q4 2014	133
Q3 2014	120
Q2 2014	123
Q1 2014	127
Q4 2013	153
Q3 2013	252
Q2 2013	360
Q1 2013	346
Q4 2012	453
Q3 2012	399
Q2 2012	307
Q1 2012	297
Q4 2011	352
Q3 2011	259
Q2 2011	172
Q1 2011	148
Q4 2010	359
Q3 2010	334
Q2 2010	241
Q1 2010	234
Q4 2009	364
Q3 2009	280
Q2 2009	398
Q1 2009	289
Q4 2008	166
Q3 2008	110
Q2 2008	204
Q1 2008	297
Q4 2007	255
Q3 2007	271
Q2 2007	331
Q1 2007	309
Q4 2006	379
Q3 2006	321
Q2 2006	321
Q1 2006	305
Q4 2005	366
Q3 2005	434
Q2 2005	368
Q1 2005	346
Q4 2004	358
Q3 2004	284
Q2 2004	445
Q1 2004	376
Q4 2003	310
Q3 2003	815
Q2 2003	843
Q1 2003	564
Q4 2002	748
Q3 2002	472
Q2 2002	237
Q1 2002	300
Q4 2001	517
Q3 2001	233
Q2 2001	307
Q1 2001	226
Q4 2000	75
Q3 2000	56
Q2 2000	48
Q1 2000	55

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Release date

March 2024

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Region

United States

Survey time period

Q1 2000 to Q3 2023

Supplementary notes

Covers one- to four-family residential non farm mortgage loans. Mortgage origination is the making of a new mortgage, including all steps taken by a lender to attract and qualify a borrower, process the mortgage loan, and place it on the lender’s books. Based on the national Delinquency Survey which covers 45 million loans on one- to four unit properties, representing between 80 to 85 percent of all 'first lien' residential mortgage loan outstanding. Loans surveyed were reported by approximately 120 lenders, including mortgage bankers, commercial banks and thrifts.

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