Tagged: Black Knight

Refinance lending activity was down for the fifth consecutive month – falling to the lowest level in three years – and is now more than 80% off 2021 levels.

Year sees $1.2T in cash-out refis as homeowners tap $275 Billion in equity, a 16-year high.

Black Knight says that with rates rising to levels not seen since May 2019, millions of borrowers are losing 'rate incentive' to refinance.

Black Knight: it now takes 25.8% of the median household income to purchase the average-priced home with 20% down and a 30-year mortgage, the worst affordability levels since 2008.

Black Knight First Look report, however, shows more than 1M mortgage delinquencies remain.

Cash-out refinance borrowers pull largest quarterly volume of equity in 14 years

The national delinquency rate on first-lien mortgages dropped to 3.74% in October, within a half percentage point of the pre-pandemic low set in January 2020.

Reports strong performance across all key financial metrics; raises full-year outlook for third consecutive quarter.

Delinquency rate falls below 4% for first time since start of pandemic.

Black Knight Mortgage Monitor report for August 2021 also finds housing market cooling off