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MARKET BENCHMARKS · HMDA PUBLIC DATA

Montana mortgage market benchmarks

Montana origination trends 2018–2025 from HMDA public data: volume, denial rates, and purchase vs refinance mix. Free and open — no account required.

Originations 2025

23,001

+18.4% vs 2024

2024: 19,431

Volume 2025

$9.03B

originated $
2024: $6.76B

Denial rate 2025

14.8%

denied / actioned
2024: 16.7% denied / actioned

Reporting lenders 2025

565

HMDA reporters
2024: 533 reporters

Origination volume by year

Dollar volume of originated loans

$ VOLUME · HOVER FOR UNITS
$0$5B$10B$15B$20B20182019202020212022202320242025$9.03B

Loan purpose mix

Share of 2025 originations

Denial rate by year

Denials / actioned applications (CFPB convention)

0.0%9.6%19.2%2018201920202021202220232024202514.8%

Montana market by year

YEARLENDERSAPPLICATIONSORIGINATIONSVOLUMEDENIALPURCHASEREFI
202556537,36123,001$9.03B2025 origination volume23,001 loans originated14.8%2025 denial rate37,361 applications actioned51.2%46.1%
202453332,07219,431$6.76B2024 origination volume19,431 loans originated16.7%2024 denial rate32,072 applications actioned54.8%39.1%
202351828,46517,470$6.12B2023 origination volume17,470 loans originated16.0%2023 denial rate28,465 applications actioned61.0%31.4%
202257243,56927,639$10.71B2022 origination volume27,639 loans originated14.4%2022 denial rate43,569 applications actioned50.8%54.0%
202158974,89251,022$16.06B2021 origination volume51,022 loans originated10.5%2021 denial rate74,892 applications actioned36.6%80.5%
202051274,49050,910$14.46B2020 origination volume50,910 loans originated9.8%2020 denial rate74,490 applications actioned37.0%74.3%
201945146,41730,457$7.79B2019 origination volume30,457 loans originated12.8%2019 denial rate46,417 applications actioned52.8%53.8%
201843139,94826,156$5.93B2018 origination volume26,156 loans originated14.7%2018 denial rate39,948 applications actioned58.1%45.0%

Attribution & methodology. Benchmarks are computed by MortRadar from Home Mortgage Disclosure Act (HMDA) public data files published by the Consumer Financial Protection Bureau (CFPB) and the Federal Financial Institutions Examination Council (FFIEC), covering activity years 2018–2025. Originations = loans originated (action taken 1); denial rate = denials / actioned applications (CFPB Data Browser convention); loan amounts are the public files' midpoint-rounded values. MortRadar's aggregations are derived works and are not published, reviewed, or endorsed by the CFPB, FFIEC, or any government agency. See data attribution and the disclaimer.

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