Optimal Blue, Plano, Texas, released its February 2024 Originations Market Monitor report, finding an increase in monthly purchase mortgage locks. That propelled a net increase in origination activity despite the interest rate environment.
Tag: Optimal Blue
Optimal Blue: Lock Volume Rises 36% Month-Over-Month in January
Optimal Blue, Plano, Texas, said mortgage lock volume rose 36% month-over-month in January as rates eased.
Industry Briefs, Jan. 24, 2024
Industry news from Dark Matter, NRL Mortgage, Calque, Optimal Blue, Ncontracts, BluePoint Mortgage, OptifiNow and Ginnie Mae.
Industry Briefs, Jan. 23, 2024
Industry news from Dark Matter, NRL Mortgage, Calque, Optimal Blue, Ncontracts, BluePoint Mortgage, OptifiNow and Ginnie Mae.
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.