Skip to main content

Ellie Mae: Purchase Market Reigns Over Refinances

Phil Hall
May 18, 2017
Home loans for purchases continued to dominate the mortgage market in April, according to new data from Ellie Mae

Home loans for purchases continued to dominate the mortgage market in April, according to new data from Ellie Mae.
In the latest Origination Insight Report issued by the Pleasanton, Calif.-based company, home loans for purchase represented 65 percent of total loans from last month, while refinances represented 35 percent of total loans. Loan closing times also became speedier: the average time to close all loans dwindled to 42 days in April, down from 43 days in March. The time close a purchase loan dropped from 43 days in March to 42 days in April, while closing for refinances dropped from 43 days in March to 41 in April.
Ellie Mae also determined the average 30-year note rose from 4.39 percent in March to 4.41 percent in April, while the percentage of adjustable-rate mortgages went from 5.6 percent in March to 5.9 percent in April, which was also the highest point for this product since November 2014.

May 18, 2017
Layoffs At

After a rocky market debut, has laid off staff.

Sep 25, 2023
CFPB Issues Guidance On AI In Credit Underwriting

Creditors must provide specific and accurate reasons for credit denials, even with complex AI models.

Sep 19, 2023
Intercontinental Exchange Completes Black Knight Acquisition; Births Dark Matter Technologies Under Constellation Software

Rich Gagliano takes the helm at Dark Matter Technologies, poised to lead the future of Empower LOS with a 1,300-strong team, blending startup agility with decades of industry experience.

Sep 18, 2023
FHFA Invites Public Engagement On Modernized Credit Score Transition

Stakeholder forums and listening sessions planned to ensure seamless rollout; extended timeline for bi-merge credit report requirement in play.

Sep 11, 2023
Desperation Drives Difficulty in Closing Mortgages in California

Analysis reveals California among top 20 toughest states for mortgage closures.

Sep 11, 2023
If You Build It, They Will Come

Ratings will go a long way toward growing the market for home equity-backed securities

Sep 07, 2023