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Rates on Closed Loans at 4 Year High

(Mortgage News Daily) - 2 months, 3 weeks ago
 Posted To: MND NewsWireThe share of refinancing loans dropped to 38 percent of loans closed in March, down from 43 percent in February. Ellie Mae's Origination Insight Report for the month notes that the 5 percent decline in those loans was consistent across all three loans types, FHA, VA, and conventional. Refinancing slipped as the interest rate on 30-year fixed-rate mortgages rose to their highest level since January 2014. Ellie Mae said that the average rate on closed loans which had be...
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