Exploring recent trends in digital originations for mortgage lenders, highlighting the role of fintech and AI in reshaping the lending process.
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With long-term mortgage rates soaring last month, rate lock activity tumbled. That’s according to reports from Black Knight and MCT.
Overall, rate lock volumes fell 20% from March, driven by a 50% drop in rate/term refinance activity, according to Black Knight.
By dollar volume, total mortgage rate locks fell 5% in April from the previous month and were down 25.4% from a year earlier, according to MCT.
