According to Black Knight, monthly origination volume was the lowest on record and down 23% month-over-month. This is wonderful in depth look into the state of today’s real estate market. Anyone who believes the real estate market will stay at these levels or move higher is smoking some good quality crack. Click Here to see this outstanding report. Here are just a few points.
- Origination volume is the lowest on record with prepay speeds signaling more drops in refi originations.
- Monthly sales were essentially flat year over year, but traditional sales were up almost 15%
- The government share of originations has decreased, led by a sharp drop in HARP originations
- Credit standards have shown few signs of loosening, with very little origination activity in the lowest credit score bucket.
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Mortgage Origination Collapses….Real Estate To Follow Google
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