New residential loans plunge in the Tampa Bay area

Published September 12 2018
Updated September 12 2018

Rising mortgage rates contributed to a sharp decline in residential loans originated in the Tampa Bay area in the second quarter of this year. According to the real estate database ATTOM Data Solutions, loans secured by residential property dropped 15 percent from the first quarter and 22 percent from the same period a year ago.

Nationally, loan originations plummeted 27 percent to a four-year low. Of the 173 metro areas analyzed, Ocala was the only area in Florida and one of just four nationwide to have a year-over year increase in new loans.

MORE: Go here for more Business News

Also In This Section