Industry news from Dark Matter, NRL Mortgage, Calque, Optimal Blue, Ncontracts, BluePoint Mortgage, OptifiNow and Ginnie Mae.
Tag: Optimal Blue
Optimal Blue: December Brought Significant Growth in Rate/Term Refinance Volume
Interest rate drops in late 2023 spurred big changes, including a 43% increase in rate/term refinance volume between November and December, according to Optimal Blue, Plano, Texas.
Optimal Blue: November Brings Long-Awaited Shift in Direction for Mortgage Rates
Optimal Blue, Plano, Texas, released its November Originations Market Monitor, with data showing a 10% drop in lock volume month over month.
Optimal Blue: Lock Volume Nearly Flat; Rate Headwinds Continue in October
Mortgage rate-lock volume was virtually flat in October compared to September; however, when adjusting for the extra business day, volume was down 4%, reported Optimal Blue, Plano, Texas.
Optimal Blue: Locks Decline Due to Seasonal Purchase Declines; Rates Hit Multi-Decade Highs
Mortgage rate lock volumes declined 20% in September, largely due to a seasonal decline in purchase activity and further rising interest rates, reported Optimal Blue, Plano, Texas.
Black Knight: Purchase Locks Down 22% Despite Lower Rates
Black Knight, Jacksonville, Fla., reported despite a nearly half-percentage-point decrease in mortgage interest rates, overall lock volumes dropped by 21.5% in November and are down 39% over the past three months and 68% off last year.
Cash-Outs, Purchase Locks Decline Amid Record-Low Affordability
Black Knight, Jacksonville, Fla., said cash-out refinances fell significantly in September, by 26.2 percent from August alone and by 78 percent from a year ago. A similar report from MCT, San Diego, also found a sharp drop in loan lock volume in September.
Black Knight: Mortgage Production Continues to Decline; Purchase Demand Now Falling Below Pre-Pandemic Levels
Black Knight, Jacksonville, Fla., said mortgage production pulled back at the end of July, falling by 49 basis points from June to 5.30%.
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.
Black Knight: Rate Lock Activity Falls as Interest Rates Climb
Black Knight, Jacksonville, Fla., said amid rising interest rates, rate-lock production fell by nearly 20 percent in March, led by a sharp drop—more than 50 percent—in rate/term refinance activity.