Category: Market Advantage report
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40% Jump in Rate-and-Term Refis Drives Overall Lock Growth as Purchase Activity Stalls
PLANO, Texas — Optimal Blue today released its February 2025 Market Advantage mortgage data report, showing a 7% month-over-month increase in mortgage lock volume driven primarily by a surge in refinance activity. Rate-and-term refinances saw the biggest jump, rising nearly 40% as homeowners seized the opportunity to lower their monthly payments. Cash-out refinances also edged…
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Rate-and-Term Refinances Surge 109% MoM in August as Mortgage Rates Decline
PLANO, Texas — Optimal Blue today released its August 2024 Market Advantage mortgage data report, which reveals an overall 1% rise in rate lock volume despite the typical seasonal slowdown in purchase lending. Lock volume growth was driven by a surge in refinance activity as homeowners reacted to declining mortgage rates.