April Origination Insight Report From Ellie Mae Sees Purchase Percentage of Closed Loans Rise to Highest Levels since 2014
ELLIE MAE (ELLI)
Last ellie mae earnings: 2/14 08:00 am
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Source: Business Wire
PLEASANTON, Calif.--(BUSINESS WIRE)-- The percentage of closed purchase loans continued to increase, rising four percentage points to 66 percent in April, according to the most recent Origination Insight Report from Ellie Mae® (NYSE:ELLI), the leading cloud-based platform provider for the mortgage finance industry. In April, the 30-year interest rates rose to the highest point since Ellie Mae began tracking data in 2011 at 4.79 percent, up from 4.69 percent in March and the 2018 low of 4.33 percent in January. The percentage of Adjustable Rate Mortgages (ARMs) increased from 6.3 percent in March to 6.6 percent in April, the highest since June 2014. “This month we saw interest rates increase to the highest percentage point since Ellie Mae began reporting data in 2011, and with that, the percentage of purchases increased four percentage points to 66 percent of total closed loans,” said Jonatha
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