Purchase Market Loan Percentage Up – NMP Skip to main content

Purchase Market Loan Percentage Up

Phil Hall
Mar 15, 2017
Home loans for purchases increased to 57 percent of mortgage originations in February

Home loans for purchases increased to 57 percent of mortgage originations in February, up from 53 percent the month prior, while refinancing activity dropped during the same period to 43 percent from 47 percent, according to the latest Origination Insight Report released by Ellie Mae.
 
The average time to close all loans decreased to 46 days in February, down from 51 days in January, while closing rates for all loans decreased to 70.6 percent, down from 72.2 percent in January. February’s average FICO score of 720 was slightly below the 722 level set in January.
 
“The purchase market led the way in February, representing 57 percent of total closed loans,” said Jonathan Corr, president and CEO of Ellie Mae. “Along with the growing purchase market, we’re seeing the time to close all loans decrease and FICO scores decline, trends that we will continue to watch in the coming months.” 
Published
Mar 15, 2017
Impac Mortgage Slashes Staffing Levels By 48%

From 330 in 4Q 2021, headcount now stands at 170 for California lender

Non-QM
Aug 15, 2022
Homeward Lays Off 20% Of Staff

Alternative real estate financing company cut about 120 jobs.

Industry News
Aug 12, 2022
Lone Peak Lending Joins Panorama Mortgage Group

Names Donovan Stamps as president.

Industry News
Aug 11, 2022
Fairway Independent Mortgage Hires Former PrimeLending President

Firm says Scott Bristol is part of aggressive originator expansion.

Career
Aug 11, 2022
Mortgage Rates Jump Back Above 5%

Freddie Mac says rates recent volatility continues.

Industry News
Aug 11, 2022
Redfin: Share Of Relocating Buyers At All-Time High In July

People are looking for less expensive and better lifestyles.

Industry News
Aug 11, 2022