March 21, 2017

Loan-Close Times Speed Up in February

The Federal Reserve’s decision to raise interest rates last week will likely spur some potential homeowners to lock in financing before mortgage rates tick even higher. So it comes as welcome news that with time of the essence for many buyers, loan-close times quickened in February, a trend that is expected to continue in the coming months.

That’s according to Ellie Mae’s most recent Loan Origination Report, which said that the average home loan took 46 days to close in February, down from 51 days in January and identical to one year ago. Close dates dropped from January for both purchase loans and refinances, a respective 45 and 47 days.

Read the full post here: http://pacunion.us/2mJGI18


About The Mark Company

The Mark Company is one of the nation’s premier urban residential marketing and sales firms. Founded by Alan Mark in 1997, The Mark Company provides a full range of core consulting services including analytics, design, marketing and sales for urban high-rises and suburban attached properties throughout the Western United States. The firm is a trusted partner to global leaders in residential development and finance, providing buyer-driven sales and marketing strategies that produce industry-leading results. The Mark Company has represented more than 10,000 residences and generated over $5 billion in sales for some of the nation’s most notable and successful developments including The Infinity in San Francisco, Evo in Los Angeles and The Martin in Las Vegas. Current projects include 181 Fremont Residences and The Austin in San Francisco and Cavalleri in Malibu. The Mark Company is a subsidiary of San Francisco-based Pacific Union International, the ninth largest residential real estate brokerage in the U.S. based on 2015 sales volume of $8.22 billion. Pacific Union merged with Los Angeles-based brokerage John Aaroe Group in December 2016. This strategic business collaboration links three of the strongest residential real estate firms on the West Coast, supporting combined 2016 production of $10.1 billion by 1,161 real estate professionals in 38 offices throughout California. The Mark Company benefits from an enriched leadership team, innovative technology and added global reach through its affiliation with Christie’s International.  For more information, please visit www.themarkcompany.com.