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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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