Jumbo, Conforming Product Hit Hardest By 2006 Slowdown, ARM Share Falling
May 25, 2006
Prime jumbo mortgages were the hardest hit product in the slumping production environment of the first quarter of 2006, according to a new analysis and ranking by Inside Mortgage Finance. Prime jumbo volume dropped 36 percent from the fourth quarter of 2005 to just $99 billion, or 14.8 percent of total originations. That was more than double the speed of the slowdown in total mortgage originations, which fell 15 percent in the first quarter.… [Three data tables included]