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Mortgage originations in the U.S. 2012-2019, by type
Mortgage originations in the U.S. 2012-2019, by type
Mortgage originations on one-to-four family properties in the United States from 1st quarter 2012 to 1st quarter 2019, by type (in billion U.S. dollars)
by Jennifer Rudden,
last edited
Aug 9, 2019
Purchase loan mortgage originations in the first quarter of 2019 amounted to 228 billion U.S. dollars and refinance loan mortgage originations amounted to 97 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.
Mortgage originations on one-to-four family properties in the United States from 1st quarter 2012 to 1st quarter 2019, by type (in billion U.S. dollars)
Loading statistic...
| Purchase | Refinance | |
|---|---|---|
| Q1 '19 | 228 | 97 |
| Q4 '18 | 291 | 101 |
| Q3 '18 | 346 | 111 |
| Q2 '18 | 334 | 118 |
| Q1 '18 | 214 | 128 |
| Q4 '17 | 283 | 168 |
| Q3 '17 | 334 | 155 |
| Q2 '17 | 322 | 145 |
| Q1 '17 | 204 | 148 |
| Q4 '16 | 258 | 265 |
| Q3 '16 | 305 | 332 |
| Q2 '16 | 300 | 242 |
| Q1 '16 | 190 | 161 |
| Q4 '15 | 220 | 197 |
| Q3 '15 | 280 | 158 |
| Q2 '15 | 249 | 226 |
| Q1 '15 | 154 | 195 |
| Q4 '14 | 179 | 133 |
| Q3 '14 | 220 | 120 |
| Q2 '14 | 213 | 123 |
| Q1 '14 | 148 | 127 |
| Q4 '13 | 173 | 153 |
| Q3 '13 | 218 | 252 |
| Q2 '13 | 212 | 360 |
| Q1 '13 | 131 | 346 |
| Q4 '12 | 144 | 453 |
| Q3 '12 | 151 | 399 |
| Q2 '12 | 154 | 307 |
| Q1 '12 | 139 | 297 |
| Purchase | Refinance | |
|---|---|---|
| Q1 '19 | 228 | 97 |
| Q4 '18 | 291 | 101 |
| Q3 '18 | 346 | 111 |
| Q2 '18 | 334 | 118 |
| Q1 '18 | 214 | 128 |
| Q4 '17 | 283 | 168 |
| Q3 '17 | 334 | 155 |
| Q2 '17 | 322 | 145 |
| Q1 '17 | 204 | 148 |
| Q4 '16 | 258 | 265 |
| Q3 '16 | 305 | 332 |
| Q2 '16 | 300 | 242 |
| Q1 '16 | 190 | 161 |
| Q4 '15 | 220 | 197 |
| Q3 '15 | 280 | 158 |
| Q2 '15 | 249 | 226 |
| Q1 '15 | 154 | 195 |
| Q4 '14 | 179 | 133 |
| Q3 '14 | 220 | 120 |
| Q2 '14 | 213 | 123 |
| Q1 '14 | 148 | 127 |
| Q4 '13 | 173 | 153 |
| Q3 '13 | 218 | 252 |
| Q2 '13 | 212 | 360 |
| Q1 '13 | 131 | 346 |
| Q4 '12 | 144 | 453 |
| Q3 '12 | 151 | 399 |
| Q2 '12 | 154 | 307 |
| Q1 '12 | 139 | 297 |
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by Jennifer Rudden,
last edited
Aug 9, 2019
Purchase loan mortgage originations in the first quarter of 2019 amounted to 228 billion U.S. dollars and refinance loan mortgage originations amounted to 97 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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- Release date
- May 2019
- Region
- United States
- Survey time period
- Q1 2012 to Q1 2019
- Special properties
- as of April 2019
Source
- Show sources information
- As a Premium user you get access to the detailed source references and background information about this statistic.
- Show publisher information
- Release date
- May 2019
More information
- Region
- United States
- Survey time period
- Q1 2012 to Q1 2019
- Special properties
- as of April 2019
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