February Origination Insight Report from Ellie Mae Shows 30-Year Note Rate Decline; Time to Close Decreases as Percent of Purchases Tick Up

PLEASANTON, Calif.--(BUSINESS WIRE)--According to the February Origination Insight Report from Ellie Mae® (NYSE:ELLI), the leading cloud-based platform provider for the mortgage finance industry, the 30-year note rate continued to drop for the second straight month to 4.86 percent, down from 5.01 percent in January. This was coupled with the time to close decreasing across all loan types by two days or more.