Loan locks for refinances rose more than 20% year over year while purchase lock counts saw a 6% decrease, according to Optimal Blue‘s January 2025 Market Advantage mortgage data report released Thursday.

Purchase lock volume climbed 16% from December, but year-over-year counts – which control for home-price appreciation – were down 6%. That marked the lowest January figure in six years. This followed a strong end to 2024 and will be an important trend to watch moving forward, Optimal Blue explained.

Meanwhile, refinance lock volume surged even as 30-year conforming rates through the Optimal Blue Mortgage Market Indices (OBMMI) details ⇒

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