General World News

Surging lock volume may hint at stabilization of the housing market: Optimal Blue 

Mortgage rates continued their downward trajectory at the start of 2024, incentivizing homebuyers to apply for loans. Meanwhile, an easing of the inventory shortage foreshadows the possible return of a stable housing market. 

Lock volume increased by 36% between December and January,  driven by a 38% seasonal increase in purchase lock volume, according to Optimal Blue’s Originations Market Monitor report. Cash-out and rate-and-term refinance volumes rose 30% and 20%, respectively. 

Brennan O’Connell, data solutions manager at Optimal Blue, also noted that January’s year-over-year decline in purchase details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com