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Closing times are speeding up

Mar 20, 2017
Closing times were way down in February, falling from 51 days in January to 46 days for all loans last month, according to the latest Ellie Mae Origination Insight Report. 

Broken out, home purchase loans took an average of 45 days to close in February, down from 48 days in January. Refinanced loans took an average of 47 days to close in February, down from 53 days.

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New York statewide home sales remain strong in February

The New York State housing market continued to post solid numbers in February, reaching 7,328 closed sales despite a 6.2-percent decline from February 2017. The February statewide median sales price of $260,000 represented an increase of 8.8 percent from a year ago. Click here to read more.