2016 Was a Big Year for Purchase-Mortgage Lending, But the Refinance Market Was Booming as Well
March 2, 2017
Purchase-mortgage originations in 2016 hit their highest level since before the housing market crash, including a solid uptick in first-time buyer activity, according to a new Inside Mortgage Finance ranking and analysis. Revised estimates show a total of $1.021 trillion of home-purchase mortgages were originated in 2016, a 10.5 percent increase from the previous year. It marked the biggest volume of purchase-money lending since 2006 even though the purchase share of new originations declined. That’s...[Includes five data tables]