October Origination Insight Report From Ellie Mae Sees Closing Rates Rise to Highest Percentage in 2018

PLEASANTON, Calif.--(BUSINESS WIRE)--Closing rates for all loans increased to 72.2 percent in October, the highest point in 2018 according to the October Origination Insight Report from Ellie Mae® (NYSE:ELLI), the leading cloud-based platform provider for the mortgage finance industry. This is up from 71.7 percent the month prior. Closing rates on refinances increased slightly to 64.9 percent in October, up from 64.4 percent the month prior, and closing rates on purchases held steady at 76.4 percent for the second consecutive month.