The drop in mortgage rates and seasonal tailwinds boosted mortgage rate lock activity by 32% in January, ending a nine-month streak of declines, according to Black Knight’s originations market monitor report.
“Mortgage rates declined in January, continuing a trend that began in early November 2022,” Kevin McMahon, president of Optimal Blue, a division of Black Knight, said in a statement.
The 30-year fixed-rate mortgages, tracked by its Optimal Blue Mortgage Market Indices, fell 36 points to 6.16% last month, continuing a downward trend that began in November.
Purchase locks set the details ⇒
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