Ohio Mortgage bankers association

The latest MBA Mortgage Market Profile highlights important trends shaping Ohio’s housing and mortgage market.

Homeownership in Ohio stands at 71.4% as of Q2 2025, well above the national average of 65.0%. In 2024, more than 158,000 loans were originated totaling $38.9 billion, with an average loan size of $242,000—significantly lower than the national average of $369,000, reflecting the state’s affordability advantage.

Ohio home prices rose 5.25% year-over-year, outpacing the national gain of 2.93%. The median monthly principal and interest payment averaged $1,525 in Q2 2025, compared to the U.S. average of $2,190.

Government-backed purchase loans made up 23.6% of applications, slightly below the national share, while refinance activity accounted for 37.4% of total applications.

The Ohio Mortgage Bankers Association announced Rich Swerbinsky has joined as Executive Director, effective July 1.

Jay Pascoe, previously the Executive Director, is retiring from the post.

“I can’t say enough about the contributions Jay has made to the industry while leading Ohio MBA. He is respected at every level at MBA and across the network of state and local associations,” said William Kooper, Mortgage Bankers Association Vice President of State Government Affairs and Industry Relations.

“We are lucky to have an experienced and dedicated real estate finance professional coming on to lead the Ohio association. Rich is a smart and welcome addition to the terrific community of professional staff leading state groups across the country. The OMBA made a great decision, and we’re looking forward to working with him in the months and years ahead,” Kooper continued.

Swerbinsky has more than two decades of mortgage industry leadership and served as a board member for the Ohio MBA from 2014-2019.

From 2015-2023 he served as President and Chief Operating Officer of The Mortgage Collaborative, and has spent the past few years working on entrepreneurial ventures, including Onward & Upward Consulting, an advisory firm serving mortgage lenders, fintechs and professionals.