"There is no doubt that the housing market has reignited from a home price perspective," said Black Knight VP of Enterprise Research Andy Walden. "Firming prices have now fully erased the pullback we tracked through the last half of 2022 and lifted the seasonally adjusted Black Knight HPI to a new record high in May."
Read More »Mortgage Locks Remain Suppressed but Increased in May
Overall rate lock volumes rose 14% in May from the prior month, but that number is still down 38% year-over-year and 29% compared to pre-pandemic numbers.
Read More »Mortgage Apps Drop 30% YoY
Mortgage application volume fell has fallen for a month straight, with purchase activity constrained by rates nearing the 7% mark and a lack of for-sale inventory.
Read More »Rate Lock Volumes Take a Hit
However, in good news for buyers, mortgage rates averaged 6.38% in April, a full 17 basis points lower than was reported in March.
Read More »Supply of Government Mortgage Credit Slips for the Third Time in Four Months
“With the spring buying season underway, lenders are grappling with the threat of a recession and tighter overall financial conditions following the recent bank failures,” said Joel Kan, MBA’s VP and Deputy Chief Economist.
Read More »Rate Lock Volumes Rise 43% in March
Rate lock dollar volumes jumped 43% month-over-month in March, driven by seasonal tailwinds, falling interest rates, and stronger purchase market performance, according to Black Knight.
Read More »Home Price Growth Falls to Lowest Level in a Decade
Black Knight forecasts that the annual growth rate is expected to fall below zero percent nationwide by April.
Read More »Managing AI and ML in the Mortgage Space
A new white paper from Black Knight examines how artificial intelligence and machine learning has been subject to concern by regulators and other stakeholders, and how mortgage industry managers and executives can benefit from their usage.
Read More »Data Confirms Mortgage Demand Up; Rates Down
"Mortgage rates declined in January, continuing a trend that began in early November 2022," said Kevin McMahon, President of Optimal Blue, a division of Black Knight.
Read More »Borrowers Utilizing Rate Buydowns Trends Upward
According to new data from Optimal Blue, rate lock data showed moderate signs of an early-January rebound in purchase locks, while refis remain constrained despite a full percentage point rate decline since its October 2022 peak.
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