Average Loan Taking Almost Two Months to Close, But With Record Low Rates
Posted To: MND NewsWire
Ellie Mae said the interest rate across all closed loans dropped below 3 percent for the first time in the nine years the company has been tracking the data. Ellie Mae is now a part of ICE Mortgage Technology, a division of Intercontinental Exchange, Inc., a NYSE listed firm.
The company’s Origination Insight Report shows that the 30-year note rate for VA loans was 2.75 percent, 3 basis points lower than in September, while the Conventional rate dipped from 3.02 percent to 3.01 percent and FHA loans held steady at 3.01 percent.
The rate across all loans was 2.99 percent. With rates so low, refinances continued to dominate originations, reaching 60 percent of total closed loans in the month, up from 58 percent in September. This bested the 2019 high, which also was in October, by 9 percentage…(read more)
Forward this article via email: Send a copy of this story to someone you know that may want to read it.
McDevitt Real Estate Closing Attorney Services - Real Estate Law Massachusetts
Have a question about Real Estate Law or need a closing attorney? Fill out the form below or call us at 617-282-7550.
We are conveniently located in Hingham and Milton, Massachusetts.
Tags used in this real estate lawyer news blog post:
#Closing #Attorney #Boston #ClosingAttorney #ma #RealEstate #HomeBuying #Attorney #Lawyer #Law
McDevitt Law Group strives to provide the highest quality real estate law and estate planning services, and we have for almost 40 years. As a small law firm, we pride ourselves on providing personal attention to your case and providing the highest quality representation. Call us today, or use the contact form below.
Barnstable County | Bristol County | Duke County | Essex County | Middlesex County | Nantucket County | Norfolk County | Plymouth County | Suffolk County
Just click on the Phone Number to dial on your phone: