2023 was a tough year for many kinds of real estate lending last year, but banks, credit unions and mortgage companies active in Connecticut put in a strong showing, with some even managing to increase their loan totals year-over-year.
As mortgage rates drove down refinance activity last year, some of the state’s top lenders saw their long-term strategies bear fruit as they competed for a limited number of homebuyers still in the market.
Milford-based Total Mortgage Services has opened a new location in Massachusetts, giving the mortgage company 38 branches nationally.
With low rates driving mortgage refinance activity again last year, lenders also saw a strong demand for purchase mortgages as lifestyle changes brought on by the pandemic continued to drive prospective homebuyers.
