YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
The Springfield market contributed to a nearly 40% increase in mortgage loan volume reported by Arkansas-based Arvest Bank.
In 2019, mortgages climbed 39.3% to $2.8 billion companywide, a new record for the company, according to a news release. At more than $121 million, Springfield market mortgages accounted for over 4% of the total.
“While many benefited from the low rates to refinance, we were also excited to assist a record number of families purchase homes,” said Steven Plaisance, president and CEO of Arvest Bank’s mortgage division, in the release.
Of the companywide total, nearly $1.5 billion were purchase-money loans used to buy a home, and roughly $1.3 billion were refinance loans.
Arvest Bank previously reported the Springfield market originated $92.7 million in mortgage loans during 2018. That makes the 2019 figure an increase of around 14%.
In the Springfield market, Arvest Bank recently announced the appointment of Kyle Hubbard, a 17-year veteran of the company, as the local president. He succeeds Brad Crain, who was promoted to Arvest’s president and CEO in Benton County, Arkansas.
There is unlimited potential in downtown Springfield, and it’s all coming together right now. That’s the assessment of Rusty Worley, executive director of the Downtown Springfield Association, as he considers the many projects that are now coalescing around the city’s center.
