Posted To: MND NewsWireA 10-basis point drop in the average interest rate of closed loans drove up the share of refinances in February. Ellie Mae’s Origination Insight Report said the average rate for all loans closed on its system was 3.86 percent during the month while conventional loans dipped from 4.03 percent to 3.89 percent and FHA loans from 3.91 to 3.87 percent. The rate for VA loans declined 2 basis point to 3.62 percent.

In response, the share of loans that were for refinancing increased from 46 to 48 percent. The distribution of loans across product types shifted slightly from January. Conventional loans gained 3 points to 74 percent of the total and FHA loans dropped from 16 percent to a 14 percent share. VA loans were unchanged, accounting for 8 percent of transactions. The time to close all loans declined…

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McDevitt Real Estate Closing Attorney Services - Real Estate Law Massachusetts

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McDevitt Law Group has been helping individuals and small business throughout the Greater Boston area purchase, sell, and finance real estate For nearly 40 years.

Our clients include developers and investors who have trusted us to provide the highest quality legal service and insight for their transactions. We know the ins and outs of commercial real estate and what it takes to make the deal work for you.


TAGS: commercial real estate, commercial real estate lawyer, commercial real estate broker, Massachusetts

We are conveniently located in Hingham and Milton, Massachusetts.

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McDevitt Law Group

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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.


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