Purchase Loan Market MIA

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Posted To: MND NewsWire

Lenders originated 1.55 million residential mortgage loans during the first quarter of 2015. The number, includes loan originations for both purchases and refinances of single family homes and condominiums. RealtyTrac, in its U.S. Residential Loan Origination Report, noted that the first quarter originations were down 6 percent from the fourth quarter of 2014 but surpassed activity in Q1 of 2014 by 17 percent. Originations for home purchases numbered 471,822, down 25 percent from the previous quarter and 1 percent higher than a year earlier. There were 1.08 million originations for refinancing, an increase of 6 percent for the quarter and 27 percent compared to the first quarter of 2014. "A dip in interest rates early in the year combined with lowered mortgage insurance premiums for FHA loans...(read more)

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Source: http://www.mortgagenewsdaily.com/05132015_loan_originations.asp

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