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Monday, June 5
“Overall, first lien mortgage originations fell by 34 percent in the first quarter of 2017,” said Black Knight Data & Analytics Executive Vice President Ben Graboske. “As expected, the decline was most pronounced in the refinance market, which saw a 45 percent decline from Q4 2016 and were down 20 percent from last year.”Because of the upward interest rate shift seen in Q4 2016, Q1 2017 purchase and refinance originations have both seen significant quarterly declines in volume. Refinance lending among higher-credit-score borrowers saw a quarterly decline of 50 percent. After surpassing their pre-crisis peak for the first time in February, home prices rose another 1.3 percent in March – the largest monthly increase in nearly four years. Mortgage rates 30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio
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