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activity picked up in October, even as average interest rates ticked up
slightly, Ellie Mae reported.
stood at 47 percent of all closed loans, up from 45 percent in September, the
“We saw increases in refinance percentages for
FHA, VA and conventional loans, bolstered by the very low 30-year note rate
that rose only slightly to 3.76 [percent],” said Jonathan Corr, president and
chief executive officer of Ellie Mae. “We believe that homebuyers are taking
advantage of the continued low rates to find monthly savings by refinancing
also reported that average FICO scores fell in October to 730. The average time
to close for all loan types was unchanged from September at 48 days.
Questions? Contact Victor Whitman at (425) 984-6017 or
PreviousLoan defaults fall to 2006 year levels
NextBuilder confidence holds steady
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