Purchase-mortgage lending exceeded refinance production for the first time in five years during the fourth quarter of 2013, according to a new Inside Mortgage Finance ranking and analysis. The shift has been in the works for some time as the potential refinance market began to shrink when interest rates rose late in the second quarter of last year. Mortgage lenders originated an estimated $168 billion of purchase mortgages during the fourth quarter of 2013, accounting for 55.1 percent of total originations. The last time purchase mortgages comprised more than half of new production was back in the fourth quarter of 2008. But purchase-mortgage originations fell...[Includes three data charts]