Posted To: MND NewsWire
While it's a bit of retrospective considering the drop in rates brought on by the Brexit news late in the month, the share of purchase originations hit a near two-year high in June according to data released this week by Ellie Mae. Purchases represented 65 percent of all loans that were closed during the month, up from 62 percent in May and the highest percentage since August 2014. Eighty-five percent of FHA originations were for purchase mortgages as well. Jonathan Corr, president and CEO of Ellie Mae said, "Purchases are continuing their upswing, representing 65 percent of the total loans closed in June, the highest percentage since August of 2014. Refinances represented only 34 percent of closed loans last month," he said. "FHA purchases are also on the rise, representing 85 percent of closed...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2a30X7s
No comments:
Post a Comment