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Rate Lock Volumes Fall to Lowest Since 2019

Rate lock volumes slid 8.9% in the month of August to their lowest level since December 2019, Black Knight’s Originations Market Monitor report finds.

Black Knight 150x150Purchase locks fell 8.7%, while rate/term refis tumbled 13.9% and cash-outs dropped 8.7%, according to Black Knight.

“Mortgage originators continue to feel the effects of interest rate and affordability challenges,” Scott Happ, president of Black Knight division Optimal Blue, a division of Black Knight, said in a statement. 

Read the full announcement from Black Knight. 

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