Increase in mortgage originations attributed primarily to home purchases

October 25, 2013 by admin

The latest quarterly credit trends analysis by Experian shows that mortgage originations increased by 10 percent over one year ago. More importantly, the data shows a 29 percent increase in home purchases from the prior quarter and a decrease in refinance activity.

Additionally, home-equity lines of credit (HELOCs) increased significantly (30 percent over last year), providing further evidence of an improving real-estate market.

Source: Mortgage originations increase by 10 percent from a year ago