On a dollar basis, the second-quarter total rose to $601.7 billion, reflecting growth of 22.8% from $490 million three months earlier and 10.3% from the $545.7 billion reported a year ago. 

Despite the positive numbers, they don't yet signify a breakthrough for a still-sluggish housing market, Attom said. 

"Mortgage activity perked up a bit in the second quarter, but it's not a clear signal that the market has turned a corner," said CEO Rob Barber in a press release.

Lagging purchase numbers underscored some of  the business pressure lenders are still seeing, with originations dropping 5.3% compared to a year ago to 758,364 loans. On a quarterly basis, though, purchases grew 23.7%. Purchase dollar volume for the period came in at approximately $309 billion. 

On the other hand, refinance transactions drove much of the industry's upswing, with borrowers taking advantage of periodic rate dips to drive lending activity, especially in the latter stages of the quarter. Refis surged from both the first quarter and a year ago by 16.4% and 23.8%, respectively, to 689,217 originations. The dollar total came out to $232.8 billion.  

"The increase in purchase and refinance activity reflects some buyer and homeowner response to marginal rate improvements, but underlying affordability and economic uncertainty continue to hold the market in check. This was a typical spring bounce, not yet a breakout," Barber said. . 

Dampening purchase demand are current home-price levels and economic worries that leave many buyers hesitant to enter the market. That, in turn, has led some prospective sellers to hold back on listing, Redfin reported this week. The effect has kept prices elevated even with the reduced buyer interest, the real estate brokerage said.

Redfin's data showed the median home sales price in July clocked in at $434,189 — the highest on record for that month. 

Government lending, HELOCs also post higher numbers

Helping to fuel overall growth were originations of Federal Housing Administration- and Department of Veterans Affairs-guaranteed loans, which also picked up in the second quarter, Attom reported. 

Total FHA-backed originations came in at 250,683. FHA volume increased 7.4% from the previous quarter and 10.6% on an annual basis.     

Meanwhile, lenders originated 100,628 VA-guaranteed mortgages, up 24.1% quarter over quarter and 21% from 12 months earlier.

With mortgage rates still more than double their levels from three years ago and settled in a 50 basis point range for much of 2025, lenders have turned some of their recent attention to home equity lending. Originations of home equity lines of credit rose to 307,046 in 2025's second quarter, rising 18.2% from the previous three months and 4.7% one year earlier.