Despite a pandemic-fueled jump in mortgage and refinance applications, mortgage tech funding dipped in 2020 — but it's already showing signs of a strong comeback. Here are the top-line bullets you need to know.
The Covid-19 pandemic created a hot residential housing market, fueled by record-low interest rates and a trend of deurbanization in major cities across the country.
The rising demand for homeownership led to record-high home loan and refinancing applications throughout the year, incentivizing several mortgage lenders to file for IPOs.
In contrast to high mortgage demand, venture capital activity in the mortgage tech sector stagnated in 2020.
