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RIVERSIDE, Calif. -- Despite rising interest rates, mortgage companies, banks and thrifts saw their home purchase origination volume increase by 29% in the first six months of 1994 compared with last year, according to a study conducted by TRW Redi Property Data here.
The company looked at statistics from 21 states and the District of Columbia.
There was a total of $101.7 billion in originations between January and June, versus $78.9 billion for the same months in 1993.
By number of loans originated, there was a 25% increase, from 692,088 to 863,927.
The report did not mention refinancings, which have entirely disappeared in the last six months and have caused a net loss in originations.
TRW Redi said the housing market recovery is a reflection of a strengthening national economy and higher...