Thursday, 28 October 2021 | The Latest Buzz for the Appraisal Industry

Despite Drop in Interest Rates, Rate Locks Were Still Down Across the Board

Black Knight Inc. new Originations Market Monitor report, which looks at origination data through May 2021, shows that overall rate locks were down 4.7% from April, with a more pronounced 8.2% decline in rate/term refinance locks.

The refinance share of the market mix dropped again in May, accounting for just 44% of the month’s origination activity.

And on an annual basis, only rate/term refinance lending is down from last April (-45%), whereas both cash-outs

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