Mortgage Loans Are Now 68% Purchase vs. Refi

Data shows that purchase loans made up 68% of mortgage originations in June, unchanged from May, with refinances making up 38% for the second consecutive month. Conventional purchase loans increased share to 63%, FHAs were up to 81% and VAs grew to 75%.

Just 6 months ago, the share of purchase and refinance mortgage originations was more balanced with 46% refinance and 54% purchase while a year ago the share was similar to now at 65% purchase and 34% refinance.

For more information on mortgage lending contact Todd Probasco Mortgage Banker 708.205.2983 email toddprobasco@gmail.com or visit www.toddprobasco.com