Purchase transactions heating up this spring

Peak buying season a rosy time for purchase activity this year, says Ellie Mae, but refis still dominate all loan volume

Purchase mortgage loan activity is gaining momentum as the housing market enters the peak spring buying season, according to Ellie Mae’s latest Origination Insight Report. According to the mortgage industry software provider, mortgage purchases represented 46 percent of lenders’ overall volume in March, compared with 53 percent in refinancing volume.