IRVINE, CA—RealtyTrac, a leading source for comprehensive housing data, has released its Q1 2015 U.S. Residential Loan Origination Report, which shows that 1,551,865 loans were originated on single family homes and condos in the first quarter, down 6% from the previous quarter but up 17% from a year ago.

Total dollar volume of loans originated in the first quarter was $377 billion, down 1% from the previous quarter but up 32% from a year ago. Refinance originations represented nearly $256 billion in the first quarter, 67.8% of total loan origination dollar volume, and purchase loan originations represented $121 billion, 32.2% of total origination dollar volume. As a share of total loan origination dollar volume, purchase originations reached a recent peak of 49.2% in the second quarter of 2014 followed by three consecutive quarters of decreasing share.

Of the nearly 1.6 million loan originations in the first quarter, 471,822 were purchase loan originations, down 25% from the previous quarter and up less than 1% from a year ago. There were 1,080,043 refinance originations in the first quarter, an increase of 6% from the previous quarter and an increase of 27% from a year ago.