According to the latest Experian-Oliver Wyman Market Intelligence Report, mortgage originations for Q1 2014 decreased by 53 percent over Q1 2013 – $235 billion versus $515 billion, respectively.
The decrease is driven primarily by lower refinance activity resulting from higher interest rates. Refinance activity accounted for 74 percent of mortgage originations a year ago, but it only represented 50 percent of originations in the latest quarter.
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Lenders can stay ahead of these changes and gain insight into portfolio diversification opportunities by following the latest credit trends.