Rate Locks Dip To New Low, Refis Hit Hard
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Rate Locks Dip To New Low, Refis Hit Hard

ByTMN Editor Reading Time: 2 minutes

Origination activity continues to sink as the market corrects, with refinances seeing major drops. Black Knight’s October 2022 Originations Market Monitor report found that rate lock dollar volume dropped 14.3% month-over-month to its lowest level since February 2019. Refinances have been hit especially hard, making up just 14% of all origination activity in October. Cash-out…

Loan Lock Volumes Fall Below Pre-Pandemic Norms For 3rd Month Straight

Loan Lock Volumes Fall Below Pre-Pandemic Norms For 3rd Month Straight

ByTMN Editor Reading Time: 2 minutes

Lock volumes dipped almost 10% from August, bringing them down 30% in the last three months and 60% YOY, according to Black Knight’s latest Originations Market Monitor. Purchase locks are 10.2% below pre-pandemic levels. This is the third straight month of lock activity below pandemic norms. The decline in locks coincides with interest rates rising…

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