Tagged: Mortgage Rate Locks

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.

Black Knight says locks remain suppressed by high rates, lack of inventory.

Black Knight report says rates remain elevated, and worsening inventory shortages prop up home prices.

'This continues to be an incredibly rate-sensitive housing market.'

Black Knight data shows nonconforming loans helped overcome rate lock drop.

Overall activity fell 15% from January, and is down 54% from a year earlier.

Increase was first since March 2022, ending nine consecutive months of declines.

Volume increased across the board, lead by rate/term refis rising 124%.