Arvest Bank recently announced that for the 14th consecutive year, its mortgage division originated more than $1 billion in mortgage loans. That includes home purchase and refinance loans.
The mark was officially surpassed on Aug. 19, two days earlier than in 2015.
After that report was issued, the Fayetteville-based lender saw another strong sign in September, funding $179.8 million in mortgage volume. That’s Arvest Bank’s best lending month since August 2013, according to a company spokesman.
With rates so low, and for so long, that’s one impressive month.
A little perspective: the rate for a 30-year fixed-rate mortgage, according to the American Bankers Association, averaged 3.42 percent the last week of September. A year ago, it was 3.85 percent.
A 15-year FRM averaged 2.72 percent the last week of September. A year ago, it was 3.07 percent.