The increase reflects positive sentiment despite rising interest rates and strong job market; Federal Reserve's scrutiny of upcoming economic reports may influence future rate adjustments.
Tagged: Mortgage Rate Locks
Month-over-month growth in mortgage rate locks coincides with the Federal Reserve's interest rate stance, as market anticipates potential future changes.
MCT's recent data reveals a drop in mortgage lock volume, with refinances showing only a modest increase despite lower rates, while seasonal trends and purchase market challenges continue.
'Lock-In Effect' keeps majority of homeowners with mortgage rates below 6%
Redfin report reveals record-breaking cancellations as homebuyers grapple with high interest rates and mounting housing costs.
Slight .44% increase in mortgage lock volume; industry faces uncertain future.
Strong labor market and consumer confidence bolster economic resilience, but homeowners' show reluctance to relinquish low mortgage rates.
Purchase lending accounted for 88.4% of rate locks in June, a record high.