Mortgage Industry News
« Return to Mortgage Industry News
January Refinacing Share was 18 Month High
Friday, February 20, 2015
Loans for home refinance made up 51 percent of all loan
originations in January, an 8 percent jump compared to December. Ellie
Mae's Origination Insight Report said
this was the highest share refinancing has had in more than 18 months.
Refinancing hit a low at 32 percent in
July but as interest rates retreated from early 2014 highs, the share of refinancing
increased steadily. In all of 2014
refinancing averaged a 38 percent share of originations. Despite the jump in volume, the average time to
close a refinance loan fell from 42 days to 39 days.
Read Full Article