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.
Tag: Originations Market Monitor
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.