The percentage of mortgage loans refinancing as part of the overall origination market continued to grow in February following January's blockbuster month, according to data released Wednesday by Ellie Mae.

The Ellie Mae Origination Insight Report determined that the refi share of mortgage originations spiked to 59% in February, eight percentage points higher than the month prior. That figure is nearly double the 33% share the report recorded in August and 16 percentage points higher year-over-year.

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