Noting the disparity, analysts at Wells Fargo Securities suggested that Google search trends provided a more realistic gauge of potential refi activity and prepayment speeds.
Commercial banks held a combined $1.673 trillion of MBS at the end of the first quarter, maintaining their position as the largest investor class in the market...
It was the weakest reading on home-equity originations since early 2015, when production of closed-end seconds and new borrowing on home-equity lines of credit totaled an estimated $38.0 billion.