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Increase in mortgage originations attributed primarily to home purchases

Published: 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

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