Scotsman Guide > News > November 2016 > News Story

 Enter your e-mail address and password below.


Forgot your password? New User? Register Now.

News Archives

Subscribe icon Subscribe to our weekly e-newsletter, Top News.

Ellie Mae: Refinances gain steam in October

Refinancing activity picked up in October, even as average interest rates ticked up slightly, Ellie Mae reported.

Refinances stood at 47 percent of all closed loans, up from 45 percent in September, the company said.

“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 their mortgages.”

Ellie 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 at (425) 984-6017 or

Bubble 0 Comments

By submitting this comment, you agree to comply with our Terms of Use.

The text exceeds the maximum number of characters allowed.

Are you sure you want to permanently delete this blog comment? This action cannot be reversed.

You must enable your community profile to use this feature.

Cancel Enable profile

You have flagged this post for inappropriate content.

Please explain below. Thank you.

Cancel Submit

Get the latest news and articles from Scotsman Guide straight to your inbox.

Send me the following e-mails:

Learn more about Scotsman Guide e-mails

Thank you for signing up to receive e-mails from Scotsman Guide.

A confirmation e-mail has been sent to the address you provided.

For questions regarding your e-mail subscriptions please contact or call (800) 297-6061.

Fins A Lender Post a Loan
Residential Find a Lender Commercial Find a Lender
Follow Us:Visit Scotsman Guide Facebook pageVisit Scotsman Guide LinkedIn pageVisit Scotsman Guide g+ pageVisit Scotsman Guide Twitter page


© 2017 Scotsman Guide Media. All Rights Reserved.  Terms of Use  |  Privacy Policy