We want to thank our customers for choosing Arvest Bank for home financing and are very pleased to announce that with the help of many new home buyers and homeowners who have refinanced, Arvest has surpassed $1 billion in home loans for 2009.  This home financing activity has been driven by low rates and the 2009 First-Time Homebuyer Tax Credit. 

Portions of the release are below, along with links to articles.  Thank you again to all of our customers for choosing Arvest Bank.

Arvest Reaches $1 Billion in Mortgages in June 2009 - Surpasses Entire 2008 Total in First Six Months

"Arvest today released results of its residential mortgage lending activities thru June 15, 2009. For the seventh consecutive year, Arvest Mortgage Company has originated more than $1 billion in new mortgage loans. Unlike previous years, though, where the company hit the $1 billion mark in mid- to late-December, this year the mark has been hit before the year is halfway over. Based on this activity, Arvest has surpassed their entire 2008 total within the first six months of 2009."

“Record low interest rates and more affordable housing contributed to the substantial increase in our mortgage numbers, but we’re beginning to see a shift in the type of loan applications we’re receiving, from refinances to new mortgage loans.  We are also encouraged that the first-time homebuyer tax credit is stimulating that interest,” Todd White, Arvest Mortgage senior vice president, said.  White continued, “As more and more people realize that Arvest retains servicing on 99 percent of the loans we make, they appreciate the benefits that come with local service and having a bank that will be with them from the application process on their very first home to their last payment.”

MarketWatch: Arvest Reaches $1 Billion in Mortgages in June

Arkansas Business: Arvest Reaches $1 Billion in Mortgages