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: Originations Market Monitor
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.
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: 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.
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: 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.
Black Knight: Origination Activity Slows for 4th Straight Month
Black Knight, Jacksonville, Fla., said origination activity fell for the fourth straight month in December, with rate lock volume falling to its lowest level in two years.