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Refinancing again dominated mortgage originations in August after falling below a 50 percent market share in both June and July. ICE Mortgage Technology's Origination Insight Report put the refinancing share of closed transactions at 52 percent, up from 49 percent in July and 48 percent in June. Purchase loans dipped three percentage points from July to 47 percent of closed loans. The distribution of loans by product type was essentially unchanged from the prior month. Eighty percent of originations were conventional loans, up 1 point, while the FHA and VA shares were unchanged at 12 percent and 5 percent, respectively. The average 30-year note rate was 3.17 percent, down from 3.25 percent in July. The time to close all loans declined by 2 days to 46 days, pulled lower but a reduction in the
Rob Chrisman
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Labor strikes are back in the news, but this time of year is *** cancer awareness month . Did you know that 1 in 8 women get *** cancer, and it can attack men as well? What could be more important than a life? They aren’t pleasant, but having m... (read more)
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Housing News
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Refinancing again dominated mortgage originations in August after falling below a 50 percent market share in both June and July. ICE Mortgage Technology's Origination Insight Report put the refinancing share of closed transactions at 52 percent, up f... (read more)
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Housing News
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The volume of mortgage applications ticked up last week for the first time in three weeks, but an uptick was the extent of it. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, increased 0.2 percent on ... (read more)
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