The amount of commercial/multifamily mortgage debt outstanding in 2017 was $3.18 trillion
The decline came as mortgage application volume ticked up slightly
Residential refinance loans tumbled in the fourth quarter of 2017, dragging the overall level of originations down by a fifth
Mortgage applications for new home purchase were up 4.6% in February compared to a year earlier; and up 3% compared to January, the Mortgage Bankers Association reported
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The share of conventional loans was at its highest level in two years