Bad Credit Online Magazine - Daily News and Advice on Credit, Debt and Mortgage : Mortgage volume increased in December

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January 12, 2006

Mortgage volume increased in December

With fixed mortgage rates remaining quite low, Mortgage origination surged in December. Shares of the largest mortgage lender, Countrywide Financial jumped nicely on the news that December residential mortgage lending stood at $44 billion, rising 27 percent from December 2004. Mortgage loan funding for the fourth quarter totaled $133 billion, up 40 percent from last year’s fourth quarter.

Other lender stocks barely moved, notably Washington Mutual and Wells Fargo traded water for a few days, and Bank of America seems can't fully digest MBNA which it just swallowed.

In our opinion, Countrywide has become an unquestionable leader in mortgage lending. It offers the largest choice of products and services that are virtually impossible to beat today.

Posted in Mortgages at January 12, 2006 05:38 PM

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