With the anticipating of rate increase, the number of re-fi jumped up 2% month-over-month. Average FICO score is now 731 which is the all time high. Although the days to fund/close is 48 days, most new purchase loan got closed in 30 days while re-fi took longer, about 60 days, so the average is 48 days. In order to get away mortgage insurance, the average Loan-to-Value (LTV) is 78% and this is very encouraging. It means most borrowers have either sizable down payment or have equity built up over years before they re-fi. All these are good indicators that mortgage market is a lot healthier these days.