Purchase loans continue to claim a larger share of the origination pipeline as refinance opportunities dwindle, according to Black Knight’s originations market monitor report. 

In June, purchase locks made up 88.4% of the month’s market mix, a record high. Purchase lock counts were down 31% year over year and 29% compared to pre-pandemic levels in 2019. In other words, nearly nine out of every 10 mortgages originated is a purchase loan.

Rate lock activity fell 1% month over month in May, with conforming loans gaining share mainly at the expense of non-conforming loan products. The benchmark 30-year mortgage finished the details ⇒

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