Mortgage originations in the U.S. 2012-2018, by type

Mortgage originations on one-to-four family properties in the United States from 1st quarter 2012 to 3rd quarter 2018, by type (in billion U.S. dollars)

Mortgage originations in the U.S. 2012-2018, by type Purchase loan mortgage originations in the third quarter of 2018 amounted to 346 billion U.S. dollars and refinance loan mortgage originations amounted to 111 billion U.S. dollars. Refinance loans were more popular than purchase loans in 2012, but this trend has been changing since early-2014 and became more pronounced as of 2017.
Purchase vs refinance loans

A purchase loan is the classic type of mortgage which describes the process by which a home buyer borrows money from a mortgage lender. On the other hand, a refinance loan is obtained by homeowners to replace their existing mortgage with a new loan, which usually reduces the monthly payments, the interest rate or changes it to a fixed rate mortgage.  

Why the trend has changed

The value of refinance loans has been falling since mid-2013, because the Federal Reserve has been continuously increasing the interest rate since 2014. However, the volume of purchase mortgage originations has been rising due to a stable economy and a thriving housing market.
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Mortgage originations on one-to-four family properties in the United States from 1st quarter 2012 to 3rd quarter 2018, by type (in billion U.S. dollars)

Loading statistic...
PurchaseRefinance
Q3 '18346111
Q2 '18334118
Q1 '18214128
Q4 '17283168
Q3 '17334155
Q2 '17322145
Q1 '17204148
Q4 '16258265
Q3 '16305332
Q2 '16300242
Q1 '16190161
Q4 '15220197
Q3 '15280158
Q2 '15249226
Q1 '15154195
Q4 '14179133
Q3 '14220120
Q2 '14213123
Q1 '14148127
Q4 '13173153
Q3 '13218252
Q2 '13212360
Q1 '13131346
Q4 '12144453
Q3 '12151399
Q2 '12154307
Q1 '12139297
PurchaseRefinance
Q3 '18346111
Q2 '18334118
Q1 '18214128
Q4 '17283168
Q3 '17334155
Q2 '17322145
Q1 '17204148
Q4 '16258265
Q3 '16305332
Q2 '16300242
Q1 '16190161
Q4 '15220197
Q3 '15280158
Q2 '15249226
Q1 '15154195
Q4 '14179133
Q3 '14220120
Q2 '14213123
Q1 '14148127
Q4 '13173153
Q3 '13218252
Q2 '13212360
Q1 '13131346
Q4 '12144453
Q3 '12151399
Q2 '12154307
Q1 '12139297
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Purchase loan mortgage originations in the third quarter of 2018 amounted to 346 billion U.S. dollars and refinance loan mortgage originations amounted to 111 billion U.S. dollars. Refinance loans were more popular than purchase loans in 2012, but this trend has been changing since early-2014 and became more pronounced as of 2017.
Purchase vs refinance loans

A purchase loan is the classic type of mortgage which describes the process by which a home buyer borrows money from a mortgage lender. On the other hand, a refinance loan is obtained by homeowners to replace their existing mortgage with a new loan, which usually reduces the monthly payments, the interest rate or changes it to a fixed rate mortgage.  

Why the trend has changed

The value of refinance loans has been falling since mid-2013, because the Federal Reserve has been continuously increasing the interest rate since 2014. However, the volume of purchase mortgage originations has been rising due to a stable economy and a thriving housing market.
Show more
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