Amy Crews Cutts, Chief Economist with Equifax, recently spoke with MReport about the impact on the industry of the recent spike in first mortgages.
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Credit Unions Take a Larger Share of the Mortgage Pie
A spike in first mortgages helped to push credit union loan balances up to a record high in the second quarter.
Read More »Mortgage Originations Climb for First Quarter of 2015
Mortgage originations have seen tremendous growth this year, according to Equifax's National Consumer Credit Trends Report. The report found that mortgage origination balances reached $466 billion in the first quarter, a 74.4 percent increase from the same time a year ago. First mortgages increased 79.9 percent compared to the first quarter of 2014 to $430 billion, leading this growth spurt. Meanwhile, originations of home equity lines of credit (HELOCs) increased 30 percent to $30.9 billion and new home equity installment loans climbed 13.6 percent to $5 billion.
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