ATTOM Q3 2025 Mortgage Reports America’s Breadbasket Seeing the Biggest Growth
ATTOM’s newly released Q3 2025 U.S. Residential Property Mortgage Origination Report shows that lenders issued 1.77 million mortgages backed by 1- to 4-unit residential properties during the third quarter of 2025.
While this marks a 1.6% dip from the previous quarter, originations remain 1.9% above levels from one year ago.
In total, mortgage activity accounted for $600.4 billion in dollar volume for Q3—down 3.1% from Q2 but still 3.1% higher than the same period in 2024. Purchase lending slowed both quarterly and annually, while refinance and HELOC activity posted gains on both fronts, reflecting shifting borrower priorities in the current rate environment.
Purchase Lending Continues to Ease
According to ATTOM, purchase mortgage originations fell to 765,667 in Q3 2025, a decline of 4.8% quarter over quarter and 6.6% year-over-year. The associated dollar volume also declined to $309.6 billion, down 5.2% from Q2 and 3.3% from a year earlier.
Purchase loans represented 43.2% of all originations and 51.6% of total dollar volume, both slightly lower than in Q2 2025.
Where Purchase Activity Is Rising
Below are the Top Metros for Annual Growth in Purchase Mortgage Originations:
1. South Bend, IN
• +51.7% year-over-year
• Q3 2024: 937
• Q3 2025: 1,421
2. Indianapolis, IN
• +51.4% year-over-year
• Q3 2024: 6,232
• Q3 2025: 9,433
4. Buffalo, NY
• +38.3% year-over-year
• Q3 2024: 2,031
• Q3 2025: 2,820
6. Fort Wayne, IN
• +21.6% year-over-year
• Q3 2024: 1,530
• Q3 2025: 1,860
7. Evansville, IN
• +21.3% year-over-year
• Q3 2024: 865
• Q3 2025: 1,049
8. Davenport, IA
• +14.9% year-over-year
• Q3 2024: 987
• Q3 2025: 1,134
9. Youngstown, OH
• +12.6% year-over-year
• Q3 2024: 1,224
• Q3 2025: 1,378