Purchase demand booms as refinance demand disappoints
By Brenna Swanson | HousingWire
The purchase market is booming, fueling the overall mortgage market and helping set the highest first-lien mortgage originations volume in a single quarter since the second quarter of 2013, the latest Black Knight Financial Services Mortgage Monitor Report found, based on data as of the end of July 2016.
In the second quarter of 2016, purchase loan originations increased 52% ($102 billion) from the first quarter, reaching the highest level in terms of both volume and dollar amount since 2007.
This in turn helped bring in first-lien mortgage originations in the second quarter to $518 billion.
