Washington Trust sees decline in new residential mortgage business

BUILDERS STARTED on the most single-family homes in January in more than four years.  / BLOOMBERG FILE PHOTO/DANIEL ACKER
NEW HOUSING is in limited supply in Rhode Island, curtailing residential mortgage originations for banks such as Washington Trust. / BLOOMBERG FILE PHOTO/DANIEL ACKER
WESTERLY – Decreases in regional banking leader Washington Trust’s residential mortgage totals in the last quarter reflect the rise in interest rates this year rather than a softening of the market itself, Washington Trust executives said Tuesday. The Washington Trust Co.’s mortgage banking revenues - largely from servicing fees and sales commissions - dropped to…

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