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Rate lock volume is now down are now down 30% over the past three months and 61% YOY.
Black Knight's September 2022 Mortgage Monitor Report also found 3.6% of borrowers are either underwater or have less than 10% equity.
Says the platform supports the next generation of hedging and loan trading.
Black Knight finds home prices are on the decline, but soaring interest rates create record-breaking P&I payments.
Foreclosure starts had a 15% jump in activity from July but remain 44% below pre-pandemic levels.
If sales keep dropping and inventory keeps growing, we may reach a buyer's market by December.
