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Q2 Originations hit Three Year High; Maybe Home Prices Aren’t Decelerating; Rates Fall

Q2 Originations hit Three Year High; Maybe Home Prices Aren’t Decelerating; Rates Fall

First lien mortgage originations reached their highest level in the second quarter of 2016 of any single quarter since the same period in 2013. Black Knight Financial Services, in its latest Mortgage Monitor , said the strong numbers were due to both a growth in home purchases and a new wave of interest rate-driven refinancing, Originations in the second quarter totaled $518 billion with purchase mortgage originations accounting for $297 billion of the total, a 57 percent share. This was a gain of 52 percent or $102 billion from Quarter 1 and was the highest level in both volume and dollar amount since 2007. Refinancing volume for the quarter was $221 billion. While an increase of 8 percent from the previous quarter the volume was down slightly from a year earlier. Black Knight Executive Vice
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