Ellie Mae: Purchase Market Reigns Over Refinances – NMP Skip to main content

Ellie Mae: Purchase Market Reigns Over Refinances

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.

 
About the author
Published
May 18, 2017
President Trump Cancels 21st Century ROAD To Housing Act

Trump cancels signing the bipartisan housing bill, leaving affordability package in limbo

Jun 24, 2026
Commercial, Multifamily Mortgage Debt Tops $5 Trillion In Q1

MBA says outstanding debt grew by $26.3 billion in the first quarter, led by multifamily lending and increased holdings from banks, agencies, and life insurers

Jun 18, 2026
Fed Holds Rates Steady, But Outlook Dims For Mortgage Rate Relief

The Federal Reserve left rates unchanged but updated projections show more policymakers expecting additional hikes

Jun 18, 2026
Congress Nears Final Vote On 21st Century ROAD to Housing Act

Senate voted 87-8 to advance House-amended package, with final votes expected in coming days

Jun 17, 2026
Florida Pending Sales Signal Strong Summer Housing Market

Closed sales rise for a ninth straight month as inventory gives buyers more negotiating power

Jun 16, 2026
Trump Taps Former CFPB Deputy Brian Johnson To Lead Bureau

MBA backs the nomination as lenders await clarity on the future direction of consumer finance regulation under the Trump administration

Jun 12, 2026