U.S. residential refinance mortgages more than double in Q4
Topics: U.S. MORTGAGES
That figure is up 20 percent from the third quarter of 2019 and up 104 percent from the fourth quarter of 2018, to the highest point since the third quarter of 2013.
With interest rates near all time lows, the refinance mortgages originated in the fourth quarter of 2019 represented an estimated $391.3 billion in total dollar volume, up 19 percent from the previous quarter and up 138 percent from a year ago to the highest level since the first quarter of 2013.
Total residential loan originations rose 40 percent, year-over-year, in the fourth quarter of 2019 to 2.27 million, the highest point since the third quarter of 2016. ■