NWA Mortgages Boomed in 2020

March 31, 2021

Real Estate

NWA Mortgages Boomed in 2020

NWA Daily

The NWA housing market is hot, hot, hot! In 2020, mortgage financing was up 83% (13,159) in the area, brought on by record-low interest rates, no doubt.

  • A new report from Attom Data Solutions shows lenders issued over 13,000 mortgage refinances in the Fayetteville-Rogers-Springdale MSA (metropolitan statistical area) last year. The final quarter alone witnessed over 4,000 refinances. That was a 79% increase from the same quarter in 2019.

  • According to data pulled from Matrix (used by the Northwest Arkansas Board of Realtors), home sales in NWA increased nearly 13% in 2020 from the year before. NWA also saw a steep increase in new home mortgages — up nearly 10% (more than 8,600).

  • This comes as part of a larger movement across the state and country. Home refinancing boomed in Little Rock, North Little Rock, and Conway jumping to 77% (13,840) last year. The Fort Smith metro surged as well, increasing 52% (3,336). Seattle saw the largest gains, with home refinances climbing 71% in 2020. -Talk Business & Politics

You can read the full report HERE

Subscribe to receive our daily newsletter

Know all the happenings in NWA with a 5-minute read of our free email newsletter every weekday.