Mortgage

Mortgage Originations Down By 60-70%…..But Everything Is OK!

Mortgage originations for the first quarter of this year fell off a cliff.  JPMorgan reported a decline of 71 percent, as I recall, and I think Citibank reported a drop of 66 percent.  Now, the second quarter’s bloodletting has come in and the numbers are about the same… down more than 60 percent year-over-year, if memory serves and it often does.