Ready to Refi? Expect It to Take Some Time

WTOP (Washington, D.C.), Sept. 3, 2019–Jeff Clabaugh
“On average, the industry is taking anywhere from 40 to 60 days for an application to close,” said Joel Kan of the Mortgage Bankers Association. “Our estimate is for high volume to close in the third quarter with some of that being pushed into the fourth quarter just because of the high volume of applications we’re seeing come in right now.”