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Purchase Loans Now Outpacing Refis
Thursday, May 21, 2015
Purchase loans continued to increase as a
percentage of loan originations in April.
Ellie Mae's Origination Insight
Report for the month put the purchase share of all closed loans at 52
percent, a 6 percentage point jump from March and the first time in 2015 that more
than half of loans were originated for that purpose.
Seventy-two percent of FHA loans were for
purchasing, also a 6 point month-over-month increase but significantly lower
than the 80+ percent share of its loans that went for purchasing every month
from May 2014 through January 2015.
Fifty-eight percent of conventional loans were originated for purchasing
and 68 percent of VA loans.
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