Residential mortgage originations fell 19.4% to $484.4 million among all U.S. lenders in the fourth quarter, as refinances fell sharply and purchases were anemic, according to a report released Thursday by a Los Angeles data analysis company.
It marked the fourth quarter in a row that originations generated over three months were lower than those from a year earlier. Credit unions have seen drops only since the third quarter.
The ATTOM Data Solutions report showed U.S. purchase mortgages rose 1.9% to $213.8 billion in the three months that ended Dec. 31, 2017, while mortgage refinancings fell 35.4% to $213.8 billion.
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