Surge in Purchase-Mortgage Lending Fueled 2Q16 Production Boom, But Refi Market Also Strengthened
September 8, 2016
Originations of purchase-money mortgages jumped 44.3 percent from the first to the second quarter of 2016, without any sign of significant easing in underwriting standards. Mortgage lenders produced an estimated $267.0 billion of purchase loans during the second quarter, lifting year-to-date purchase originations to $452.0 billion, an 8.1 percent increase from the first half of last year. The refinance market still had...[Includes three data tables]