Lenders issued a bump in mortgages to U.S. homebuyers in recent months compared to last year, but such financing was largely flat in Las Vegas, a new report shows.
A total of 6,520 home-purchase loans were issued to Las Vegas-area buyers in the first quarter, up .08 percent, or five loans, from the same period in 2015, according to RealtyTrac.
Nationally, lenders issued about 509,900 home-purchase loans last quarter, up 3 percent year-over-year.
At the same time, mortgage refinancing fell locally and dropped even faster nationwide.
Mortgage lenders issued 5,595 refinancing loans in the Las Vegas area in the first quarter, down 17 percent from a year earlier, and roughly 644,200 across the country, down 20 percent, RealtyTrac reported.
Locally, mortgage lending climbed last year — buyers obtained around 31,800 purchase loans in 2015, up 14 percent from 2014 — but was still a fraction of what occurred during the housing bubble last decade.
In 2005, with the valley and the country awash in easy money, lenders doled out 92,900 home-purchase loans in the Las Vegas area, according to RealtyTrac.