The refinance share of mortgage origination volume in August increased to 52%, up from 49% in July but down from 56% in August 2020, according to ICE Mortgage Technologies’ Origination Insight Report.
The average time to close a mortgage (all loans) decreased to 46 days, down from 48 days in July.
The average time to close a refinance decreased to 43 days, down from 47 days the month prior.
The average time to close