Purchase And Refinance Mortgage Originations Increased In 2016

According to CoreLogic’s analysis of public records, the dollar volume of purchase and refinance mortgages originated last year grew to $2 trillion, a 15 percent jump from 2015.

The number of all mortgages also went up 10 percent from the previous year, nearly reaching 8 million.

Refinance was the main cause of the increase, but purchase originations were strong, with an 11 percent rise in dollar volume and 7 percent rise in total homes.

The purchase originations increase was due to an increase in home sales, a decrease in the share of homes purchased with all cash, and strong home price appreciation.

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