Last year’s first-lien residential loan production ascended to the highest level in nine years, with purchase-money activity reaching a decade high.

Mortgage bankers originated 2.080 million loans for $559 billion during the period that started on Oct. 1, 2016, and concluded at year-end 2016.

The number of loans closed retreated from the previous three-month period, when the nation’s mortgage production came to 2.165 million loans.

Source: Mortgage Daily