First-Time Buyers Help Sustain Purchase-Mortgage Market in Late 2015, Refi Volume Steady at Yearend
March 3, 2016
The purchase-mortgage market took the biggest hit during the fourth-quarter slowdown in mortgage originations, but strength in first-time buyer activity helped soften the blow. According to a new Inside Mortgage Finance analysis and ranking, refi originations held steady at $175 billion during the fourth quarter. Although refinance activity in the second half of 2015 was down sharply from the first six months of the year, it was still significantly stronger than at any time in 2014 and year-to-date refi originations were up 60.0 percent in 2015. The purchase-mortgage market also grew...[Includes three data tables]
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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