General World News

Rate lock volume plummets in least affordable housing market in 40 years

Rate lock volume fell 1.5% in August, the third consecutive decline as mortgage rates climbed to the highest level in more than 20 years.

Overall lock volumes were down 9.5% over the last three months and were 55% below that of August 2022, according to Black Knight’s August originations market monitor report. 

“Interestingly, we saw very slight upticks in both cash-out and rate/term refinance locks in August,” Andy Walden, VP of enterprise research for Black Knight, said in a statement. “From what the data is showing us, much of details ⇒

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