Loan Originations: Home Purchases Up

Even with increasing interest rates, closed home purchases ticked up 6 percent in March, according to Ellie Mae®’s latest Origination Insight Report. Closed refinances slumped 5 percent.
Across the board, closings took 41 days in March, one day less than in February; however, purchases took 43 days, two days less than in February. Closing rates were:Purchases – 76.3 percent (Increase from 75.7 percent in February)
Refinances – 64.9 percent (Decrease from 65 percent in Febru