Rate Lock Volume Fell 22% in April: Black Knight
While there were 3 fewer business days in April, there were still additional signs of a slowdown.
While there were 3 fewer business days in April, there were still additional signs of a slowdown.
Reports strong first quarter with rate lock volume of nearly $3.2 billion.
Overall rate lock dollar volume down 21.5% month over month, remaining at the lowest level since February 2019.
Year-over-year total lock volume falls by nearly 50%
Purchase demand fell below pre-pandemic levels last month, Black Knight says.
Increase likely due to homebuyers moving to lock in loans as rates rose at fastest pace in 13 years.