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Closing times are speeding up

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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