About 82% of origination comes from purchase mortgages
Housing Wire
JUNE 13, 2022
Overall mortgage rate lock took a hit in May, led by a drop in refinance activity, both for rate-term refis and cash-outs. Rate/term refinance lending activity declined 23.6% Cash-out refinance locks also dropped 11.9% Rate locks were down 4.8% in May from the previous month and was down 89.9%
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