The inaugural Originations Market Monitor report from Black Knight Inc. – a new monthly study that leverages daily rate-lock data from Black Knight’s Optimal Blue PPE to provide a view of origination activity – shows that while overall rate locks were up 2.5% for the March, there was a sharp divergence between purchase and refinance activity.
“Recent – and sharp – upward movements in interest rates have shifted the mortgage originations landscape very quickly,” says Black Knight