Daily Real Estate News
Mortgage activity is soaring, with total mortgage origination balances reaching $466 billion in the first quarter — nearly a 75 percent increase from the same time a year ago, according to Equifax National Consumer Credit Trends Report.
The bulk of the growth has been to first mortgages, which zoomed nearly 80 percent compared to the first quarter of 2014 to $430 billion. The number of first mortgages originated in the first three months of the year was 1.78 million — a 55 percent increase over the same time a year ago and 14 percent higher than in the fourth quarter of 2014.
