Posted To: MND NewsWire

Last year was a record setting one when it comes to mortgage origination according to Black Knight’s January Mortgage Monitor. It puts the total volume of originations during 2020 at $4.3 trillion, the highest in the company’s records. Refinance originations, to no one’s surprise were also at an all-time high of $2.8 trillion and $1.5 trillion in purchase loans was originated, the largest annual volume since 2005. The fourth quarter also made history with all-time single quarter highs for purchase mortgages at $346 billion and refinancing at $869 billion. In total, $1.3 trillion worth of mortgages were originated during the quarter. Even though the record low mortgage interest rates, which paved the way for such a spectacular year, have been rising in recent weeks, Black Knight says 2021 at…(read more)

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Source: Mortgage News Daily