Rate Locks Fall Across All Loan Types

Black Knight, Jacksonville, Fla., said despite a leveling off in interest rates, lock volumes fell another 4.8% from April, with monthly declines seen across both rate/term (-23.6%) and cash-out (-11.9%) refinances.

Mortgage Holders Gain $1.2 Trillion in 1Q Tappable Equity

The least-affordable housing market in nearly two decades provides at least one windfall—the average home has gained nearly 9 percent in value since just the start of 2022, with homeowners gaining more than $1.2 trillion in equity in the first quarter, said Black Knight, Jacksonville, Fla.

Housing Market Roundup: May 20, 2022

Catching you up on housing and economic reports that came across the MBA NewsLink desk this week during and after the MBA National Secondary and Capital Markets Conference & Expo in New York:

Borrower Behavior Changing as Home Affordability Drops

Though home price appreciation slowed slightly in March, 30-year mortgage interest rates above 5 percent have pushed affordability to nearly its worst-ever level, said Black Knight, Jacksonville, Fla.

Borrower Behavior Changing as Home Affordability Drops

Though home price appreciation slowed slightly in March, 30-year mortgage interest rates above 5 percent have pushed affordability to nearly its worst-ever level, said Black Knight, Jacksonville, Fla.