Rate Lock Volumes Slipped In July As Rates Surged

Rate Lock Volumes Slipped In July As Rates Surged

Rate lock volumes sank in July as mortgage rates exceeded 7% for the first time since November 2022. Black Knight’s Optimal Blue Mortgage Market Indices for July found that 30-year conforming rates cross 7% early in the month before bouncing down and up again, ultimately ending the month at 6.88%. In line with rising rates,…

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