Did loans take an unusually long time to close in November, or was that simply your imagination? You probably didn’t dream it up.
- The time to close a loan rose slightly in November compared to the same period last year -- by about four days.
- The increase could be related to a busy September and October selling season, with many of those contracts closing in November, as well as the aftereffects of rising mortgage rates, spurring buyers and refinancers who may have been dragging their feet.
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