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Rate Locks Fall in July for Fourth Straight Month: Black Knight

Rate lock activity slid 14.4% in July, marking a fourth consecutive month of declines. That’s according to Black Knight’s latest Originations Market Monitor report.

arrow 98577 1280Rate locks for rate/term refinances fell 17%, while rate locks for purchase mortgages dropped 14.3% to pre-pandemic levels, according to Black Knight.

The refinance share of the market held steady at 18%, the lowest since tracking began in January 2018.

Read the report from Black Knight. 

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