Non-QM lock volume rose 8% from August while overall activity declined, and adjustable-rate loans captured their largest share since Optimal Blue’s tracking began in 2019
Investor and DSCR loans drive the segment’s growth as conforming lending loses ground
Purchase locks fell 12% from June as the conforming share dropped to 47.3%, extending the mortgage market’s shift toward more specialized products
As borrowers increasingly rely on government and non-conforming loans, the GSE market has shrunk dramatically
Declining lock volumes and applications signal difficult conditions ahead with volatility on the upswing
Stability comes as market prepares for 2025
Early homebuying activity has reached its highest level in year-and-a-half
MCT reports 3.17% increase in September
Both Redfin and Realtor.com's September 2024 reports highlight the impact of falling mortgage rates on buyer demand and seller activity
Buyer agents surveyed report 'minimal market disruption' following NAR Settlement