As refinances continue to make up the smallest monthly share of mortgage originations during recent years, the closing rate has strengthened, and conventional share has widened.
Out of all single-family loans that were closed during July, two-thirds were conventional mortgages. Conventional share has widened from 64 percent one year previous.
Mortgages insured by the Federal Housing Administration accounted for 20 percent of last month’s national mortgage production, less than the 22 percent share as of July 2017.
Source: Mortgage Daily