http://www.inman.com/wire/mortgage-originations-defy-interest-rate-hikes/
Mortgage originations rose 12.7% (year over year).
This Indicates stability despite increases in interest rates.
Prepayment activity driving origination volume. (Good indicator of mortgage refinances)
"Prepayment speeds have been impacted by the sharp increase in mortgage interest rates... For the year to date, 2013 has produced the lowest level of foreclosure starts since 2007. Given that nearly 50 percent of these are repeat foreclosures means that the picture is even more positive than a surface reading of the numbers might suggest."
Herb Blecher
LPS Data & Analytics Senior Vice President
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