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Tag Archives: Ellie Mae

Mortgage Refinance Rate Rises 8 Percent in February

Mortgage refinance rates climbed another 8 percent in February to 59 percent, making it the highest it has been since May 2013. According to Ellie Mae’s Origination Report released Wednesday that number is almost doubled the rate seen six months ago in August 2014 and 16 percentage points higher than the year-over-year figure of 38.

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Refi Share Makes Comeback in January

Based on a sample of loans originated on the company's platform, Ellie Mae reported that refinances accounted for 51 percent of loan volume in January, a jump of 8 percentage points from December. The spike put refinance share at its highest in more than a year and a half.

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Purchase Mortgage Share Gains Ground in December

Calculating from a sampling of mortgage applications initiated on its Encompass platform, technology provider Ellie Mae estimated this week that home purchase mortgages accounted for 56 percent of lending activity last month, up from 54 percent in November.

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Refinances Gain Market Share in November

Out of a sample of closed loans drawn from Ellie Mae's origination platform last month, 45 percent were refinances, the company reported Wednesday. November's refinance share marked a 5 percentage point increase from October and was the same as a year ago. "Winter is normally a slow time for housing sales, yet the increase in refinancing volume is protecting many lenders from the cold," said Jonathan Corr, president and COO of Ellie Mae.

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Refinance Share Rises to Seven-Month High on Lower Interest Rates

In its latest Origination Insight Report, released Thursday, mortgage technology provider Ellie Mae reported that refinancing activity accounted for 40 percent of overall mortgage volume in October, marking the highest level since March. Despite the increase in demand, lenders were able to improve their closing time on refinance loans.

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Refinances Rise While Loan Approvals Fall

After declining for most of the year thus far, the share of refinance loans experienced a 3 percentage point boost in September, according to the latest Origination Insight Report from Ellie Mae. At the same time, a lower percentage of loans made their way to closing in September compared with the month before, and the time it took to close those loans that did make their way through the approval process increased, according to Ellie Mae.

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Mortgage Closing Rate Hits New High in August

Examining a sample of loans initiated in May, mortgage technology provider Ellie Mae calculated a closing rate of 61.1 percent for all loans in its August report, up from 57.7 percent in July's report. "The closing rate in August was the highest since we began tracking this data three years ago," said Jonathan Corr, president and COO of Ellie Mae. "This was further indication that lenders are working every deal and making sure leads don't slip away."

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