Lending Market Shows Improvement, But Has Not Recovered

Lending Only Grows 2% as Rates Decline

The third quarter of 2024 brought modest growth to the U.S. mortgage market, according to ATTOM's latest Mortgage Origination Report. A total of 1.67 million residential mortgages were issued during the quarter, representing a 1.9% increase from both the previous quarter and the same period in 2023. This marks the second consecutive quarter of growth—a pattern not observed since early 2021. Despite this improvement, overall mortgage activity remains significantly lower than the 2021 peak, reflecting ongoing challenges in the housing market.


The increase in mortgage originations was primarily driven by gains in refinancing and home-equity borrowing, as opposed to purchases. Refinancing activity rose by 6.9% compared to the second quarter, while home-equity lending increased by 2.3%. In contrast, purchase loans declined by 1.7%, influenced by a tight housing supply and elevated prices, even as mortgage rates for a 30-year fixed loan dipped close to 6% by the end of the quarter. These dynamics highlight the challenges homebuyers face, with borrowing costs improving but property availability and affordability continuing to hinder purchase activity.


Regionally, lending trends varied significantly. Areas such as Anchorage, Alaska, and San Diego, California, experienced notable increases in overall lending, while Boulder, Colorado, and St. Louis, Missouri, saw sharp declines. In total, lenders issued $550 billion in residential mortgages during the third quarter, up 2.9% from the second quarter and 6.6% year-over-year. However, this figure remains far below the $1.3 trillion peak seen in early 2021, underscoring the long-term impact of rising rates and constrained inventory.


Refinance activity, in particular, reached its highest level in two years, accounting for 35.3% of all originations. The decline in mortgage rates has encouraged many homeowners to refinance their existing loans, signaling a shift toward reducing costs rather than purchasing new properties. Similarly, home-equity lines of credit have seen steady growth, comprising 17.8% of all loans issued in the quarter. These trends reflect a broader reliance on existing home equity as an alternative to navigating the challenging purchase market.


Government-backed lending also played a role in the quarter's activity. Loans insured by the Federal Housing Administration (FHA) remained steady at 13.8% of all mortgages, while loans backed by the Department of Veterans Affairs (VA) rose to 5.9%. Both categories highlight the continued importance of government programs in supporting segments of the housing market.


Although the mortgage market showed signs of growth in the third quarter of 2024, it remains far from its previous highs. While declining mortgage rates have spurred some activity, the persistent challenges of high home prices and limited inventory continue to weigh on the market, particularly for prospective buyers. As the new year approaches, these mixed forces will likely shape the evolving dynamics of residential mortgage lending.

Why Las Vegas HOA Fees May Be More Affordable Than You Think

September 15, 2025
What Do HOAs Do and Why They Matter Homeowners associations (HOAs) manage common areas, enforce neighborhood rules, and provide amenities like pools, clubhouses, and security. While they require monthly fees, benefits often include better-maintained neighborhoods, enhanced amenities, and stronger property values. In Las Vegas, HOA coverage is common and rising. According to Realtor.com® - by early 2025, 77.1% of listings had HOA fees , with a median of $118 , making Las Vegas one of the cities with the highest prevalence of HOA-managed homes—but still relatively affordable compared to places like Edwards, CO ($525) or North Port-Sarasota-Bradenton, FL ($310). This places Las Vegas seventh nationally for the prevalence of HOA-controlled listings. While the city has a high rate of HOA-managed properties, the $118 median monthly fee is comparatively low. HOA fees vary based on: Location & Amenities Home Type: Condos typically cost more than single-family homes. Rising Costs: Inflation and underfunded reserves can lead to sudden increases. Bottom Line: Understanding HOA fees in Las Vegas helps homebuyers budget effectively and avoid surprises. Despite the high prevalence of HOA-managed properties, Las Vegas remains more affordable than many other metro areas!  Source: Realtor.com, Homeowners Associations 2024

Las Vegas Ranked #9 for Diverse Food Scenes in the U.S.

September 8, 2025
When people think of food diversity in America, their minds usually go straight to New York City. But according to a recent study highlighted by the esteemed culinary school, Escoffier, the Big Apple doesn’t take the top spot. Instead, San Francisco claimed first place — praised for its bustling variety of cuisines and holding the title for the highest density of restaurants per capita among major U.S. cities. What’s even more exciting for us locals? Las Vegas earned the #9 spot on the list of the most diverse food cities in the country. Why Vegas Stands Out Las Vegas may be known worldwide for its neon lights and entertainment, but the dining scene is what keeps both tourists and residents hungry for more. From celebrity chef–driven restaurants on the Strip to hidden neighborhood gems serving authentic global flavors, Vegas has transformed into a true culinary destination. While seven of the top 10 cities named in the study were coastal (a trend Escoffier notes is tied to cultural diversity and a robust restaurant scene), Las Vegas proves that you don’t have to sit on the coast to experience world-class variety. Our city thrives on international influence — with dining options that range from Korean barbecue and Italian trattorias to Thai street food, upscale steakhouses, and plant-based fine dining. A Foodie Destination on the Rise Being ranked in the top 10 isn’t just a nod to the Strip’s luxury restaurants, but also to the everyday spots that locals love. With new eateries opening regularly, the Vegas dining scene continues to evolve and surprise. So, whether you’re a longtime resident or just visiting, Las Vegas offers something for every craving — proving once again that this city is more than just an entertainment capital. It’s a place where cultures, flavors, and creativity come together to make the dining experience as dynamic as the city itself.

The Power of Gratitude in Building Strong Business Relationships

September 3, 2025
In business, one truth always stands out: no one succeeds alone. Whether you’re running a small business or managing a large organization, your success is built on the connections you make. And one of the simplest yet most impactful ways to strengthen those relationships is through gratitude. At McKenna Property Management, we’ve made gratitude a core part of our culture from the very beginning. Our owner and broker, Jenni McKenna, personally hand-delivers gifts to some of our VIP agents every single month . While it may sound like a small gesture, it makes a big difference. These thoughtful touches show our VIP Agents how much we value their trust in us, collaboration, and hard work. But it’s not just about the gifts. Gratitude comes in many forms—thank-you cards, handwritten notes, or even a quick phone call to say “we appreciate you.” What matters most is the consistency and authenticity behind the gesture. Over the years, these small acts of appreciation have helped us build trust, loyalty, and long-lasting relationships that go beyond a simple business transaction. By showing genuine appreciation, we’ve created strong bonds with clients and agents alike, and those connections have allowed McKenna Property Management to grow into what it is today. If you’re a business owner or professional, here’s our tip: make gratitude part of your business strategy. It doesn’t have to be extravagant—even the simplest “thank you” can strengthen relationships and open the door to new opportunities. At the end of the day, business isn’t just about numbers—it’s about people. And people remember how you make them feel. 💙