Refinance Activity Up in December – NMP Skip to main content

Refinance Activity Up in December

Jan 18, 2018
Last year closed with an uptick in refinance activity, according to new data released by Ellie Mae

Last year closed with an uptick in refinance activity, according to new data released by Ellie Mae.
 
In the final month of 2017, the percentage of refinances rose to 40 percent of all closed loans, up by one percent from November. The percentage of FHA refinances increased to 25 percent of closed loans in the month, up one percentage point from November, while the percentage of conventional refinances increased to 47 percent of closed loans in December, up 2 percent from the month prior.
 
“As we closed out 2017 we saw an increase in the percentage of refinances due to seasonality as fewer purchases take place in the fourth quarter, and likely homebuyers were taking advantage of the mortgage deductibility limit before it decreased to $750,000 on December 15,” said Jonathan Corr, President and Chief Executive Officer of Ellie Mae. “We probably can also attribute some of the increase in closing rates to last-minute efforts by borrowers to close loans before the tax changes took effect.”
 
Ellie Mae also reported closing rates on all loans increased from 70.9 percent in November to 71.2 percent in December. Closing rates on refinances were up from 65.1 percent to 65.6 percent, while and closing rates on purchases rose from 75.5 percent to 76.1 percent. Closing rates also increased across FHA, conventional and VA loans for both purchases and refinances. 

 
About the author
Published
Jan 18, 2018
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026