Refis Dominate October Originations – NMP
Industry News

Refis Dominate October Originations

Nov 20, 2019
Photo credit: Getty Images/pinkomelet

Refinance activity accounted for 51 percent of closed loans in October, the highest percentage of refinances since March 2015, according to new data from Ellie Mae. Purchase activity accounted for 49 percent of total closed loans, down two percentage points from the previous month. Refinances represented 33 percent of all loans closed by Millennials in September.
 
"Interest rates continued to decline in October which had homeowners reaching out to lenders as they look to save on their monthly mortgage payments," said Jonathan Corr, president and CEO of Ellie Mae. "We are seeing refinances surpass 50 percent of closed loans, which is proof that homeowners are taking advantage of the opportunity to lock in lower rates."
 
Ellie Mae also reported that the time to close all loans in October was 44 days, up from 43 days in September. The time to close refinances increased to 42 days from 39 days in the month prior while the time to close purchases jumped one day to 47 days.
 
About the author
Phil Hall
Link copied
Published
Nov 20, 2019
Get the NMP Daily
Tech
Lorien AI Integrates With MeridianLink Mortgage

Integration brings conversational AI, document analysis, and underwriting guidance directly into the loan origination workflow

Lorien AI announced that its platform will be integrated with MeridianLink Mortgage, giving lenders access to conversational AI tools directly within the loan origination system.According to the company, the integration is designed to allow users to access underwriting guida...

Continue reading
C-Suite Strategies
UWM Lets Two Harbors Waiver Period Expire Without New Proposal

After a direct engagement period urged by shareholders, Two Harbors says UWM failed to submit a revised bid before the June 12 deadline

Two Harbors Investment Corp. said Monday that UWM Holdings failed to submit a revised acquisition proposal during a special engagement period designed to allow direct negotiations between the companies, prompting the mortgage REIT's board to once again unanimously recommend ...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
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

Industry News
Jun 12, 2026
Trump Names FHFA Director Bill Pulte Acting Director Of National Intelligence

FHFA director will continue overseeing Fannie Mae and Freddie Mac while serving as acting director of national intelligence

Industry News
Jun 02, 2026
Realtor.com Launches AI Home Search Platform Built With Google

New RealAssist tool combines AI, affordability guidance and Google Maps data to engage buyers before they reach lenders

Industry News
Jun 02, 2026
Another MLS Challenges Zillow In Fight Over Listing Visibility

Realtracs joins MRED in pushing back on Zillow's listing policies, a battle with potential implications for the broader homebuying and mortgage ecosystem

Industry News
May 29, 2026
Gas Prices Are Quietly Reshaping Homebuyer Affordability

Rocket Money data suggests rising fuel costs are adding pressure to already payment-sensitive buyers as mortgage rates remain elevated

Industry News
May 28, 2026
MISMO Targets Costly TRID Fee Cures With New Mortgage Fee Standardization Framework

MBA’s standards organization says inconsistent fee naming still drives costly redisclosures and rework, with fee-related cures affecting more than 30% of mortgage loans

Industry News
May 27, 2026