Refinances are flowing once again, according to July mortgage origination figures in a report from Black Knight, and early data from August suggests more are on the way.
For the first time since February, refinance activity accounted for half of all origination activity, according to a report by Black Knight. Rate and term refinances rose 24%, while cash-out refinances were up 20% from the previous month. Overall, mortgage rate locks were up 5.5% month-over-month.
A number of recent changes working together drove the increase in refinance activity.
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