The Fed said that originations surged by roughly 5.3 million, or 67.1%, last year, versus 2019 levels.
Refinances for one- to four-family properties spiked 150% and loans to buy a home rose 6.7.%
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MMG's Bodnar: We've Been Watching This Movie All Year Bill Bodnar of the Mortgage Market Guide breaks down the jobs report, why and how it came in above expectations, and what that means just days ahead of the Fed meeting.
Estimated reading time: 0 minutes, 19 seconds
Mortgage Lending Soared 67.1% in 2020: The Fed
Mortgage lenders handled ballooning volumes last year, driven mainly by refinances to take advantage of extraordinarily low interest rates, according to the latest statistics from the Federal Reserve. So reports Reuters.
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