Mortgage Lending Reaches 5-Year High
Mortgage lending surged to a five-year high in 2012, driven by a steep rise in refinancing as borrowers took advantage of the lowest mortgage rates in at least six decades, according to a new report from the Federal Reserve. The analysis, released Wednesday, found that lenders originated nearly 9.8 million mortgages last year, up 38 percent from 7.1 million in 2011.
From "Mortgage Lending Reaches 5-Year High"
Wall Street Journal (09/18/13) Timiraos, Nick
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