Black Knight, Jacksonville, Fla., said 57 percent of recent borrowers used rate buydowns to purchase a home, with nearly 25 percent paying two or more points upfront.
Tag: Rate Locks
Chris Bennett and Erin Palmer: Extended Rate Locks–How to Hedge Your Bets Past 90 Days
While any new construction loan destined for sale to a GSE can be a one- or two-time close, lenders can decrease risk by focusing the right resources on the initial underwrite as well as the final review.
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.