Purchase-mortgage volume declined 14.3% on a sequential basis, while refinances were up 8.0%. The rise was propelled by FHA refis, which grew 6.2% from the fourth quarter to $24.06 billion.
Arch Mortgage Insurance sprinted to the lead among private MIs with $14.81 billion in NIW for the first quarter. The company was the only PMI to increase production from the previous three-month period.