The nation’s origination of loans utilized to finance a home purchase fell to the lowest level during any month in almost two years.
Residential loan production, including purchase financing and refinancing, came to
393,846 units for $105.720 billion during January.
Based on dollar volume, that turned out to be the slowest mortgage originations since February 2016, when the total was $99.408 billion.
That is based on data provided to Mortgage Daily by ATTOM
Data Solutions.
U.S. mortgage production was 516,134 loans for $141.188 billion in December 2016. In January 2016, the total was 369,730 loans for $95.416 billion.
January 2017 originations included
155,821 purchase-money loans for $42.123 billion. That was the lowest dollar volume since February 2015’s $37.059 billion.
Refinances accounted for 238,025 loans for $63.572 billion during the most-recent month — the lowest dollar volume during the past 11 months.
ATTOM’s 60 percent refinance share during January 2017 is much higher than 47 percent reported by Ellie Mae Inc. for closed-loan production during the same month.
