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January Refinacing Share was 18 Month High

Loans for home refinance made up 51 percent of all loan
originations in January, an 8 percent jump compared to December.   Ellie
Mae’s Origination Insight Report said
this was the highest share refinancing has had in more than 18 months. 

Refinancing hit a low at 32 percent in
July but as interest rates retreated from early 2014 highs, the share of refinancing
increased steadily.  In all of 2014
refinancing averaged a 38 percent share of originations.  Despite the jump in volume, the average time to
close a refinance loan fell from 42 days to 39 days.

…(read more)

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