As the monthly share of mortgage originations that were for refinances expanded last month, the length of time that it took to process and close a residential loan increased.
Of all home loans that were originated in September, sixty-eight percent were conventional mortgages. Conventional share widened from 64 percent the same month in 2015.
The share of closings that were insured by the Federal Housing Administration worked out to a fifth last month. FHA share diminished from 23 percent in September 2015.
…read more
From:: Financing