LIGHTNINGDOCS DATA
May 23, 2024
Bridge Loan Volumes YoY
So far, 2024 has shown steady, unwavering growth, as we have seen YoY monthly comparisons reaching nearly 50% in February. April was up by more than 38% from April 2023, showing a more promising climb than the previous year’s yo-yo effect.
Bridge Interest Rates
National bridge interest rates in April 2023 sat around 10.97%, whereas in April 2024, it has risen slightly to 11.31%. While this has calmed from the December spike, April 2024 numbers reflect that 84% of Bridge Loans are sitting between 10.0% – 12.99%.
Active Bridge States By Volume
It’s no surprise that California has maintained the #1 spot for volume YoY, but MoM comparisons show that Ohio maintains steady volume, and Pennsylvania is pushed out of the top 10 by New York. While Texas has experienced less volatility than California or Florida, it remains steady in growth.
Active Counties By Volume
LA County has seen slight decrease in rates from January ’24 to April with an average drop to 11.29% from Jan’s average of 11.52%, which has kept volume climbing. San Diego County has had a reverse effect with a rate climb from 10.85% to April’s 11.20%, which did not slow volume, as San Diego climbed into the #2 spot of the top 10 after taking in this past April’s averages.
**See County Volatility Chart Below
Active Bridge County Rate Volatility (2024)
