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April Rate Lock Volumes Fall Despite Cooling Rates

Rate lock volumes dropped in April even though mortgage rates were also lower during the month. So reports TheMReport.

Black KnightAccording to Optimal Blue Mortgage Market Indices, rate lock volumes were down 22% in April on a month-over-month basis, or only 10% when adjusting for the month having three fewer business days than in March.

Andy Walden, vice president of enterprise research at Black Knight, said in a statement that homebuyers may have been holding out for a further decline in mortgage rates. Lack of inventory was also a factor, he said.

Read the full article from TheMReport.

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