Tag Archives: Rate Locks

With interest-rate shock continuing to impact new listing volumes, housing inventory remains at historically low levels, according to HouseCanary's December Market Pulse Report. But positive developments may be ahead.

While the combination of high home prices and interest rates continues to price many potential buyers out of the market, homebuyer mobility has stalled as a result as well. Riordan Frost, Senior Research Analyst for the Joint Center for Housing Studies, reveals the latest predictions surrounding homeowner mobility and what it would take to recover.

As inflation eases and mortgage rates fell from their highest level, housing payments declined. A new Redfin report reveals an uptick in new listings, and what the drop in monthly payments could mean for homeowners and buyers in the coming year.

Homeowners nationwide are staying put as a historically low supply of existing homes for sale continues to make homeownership more difficult for buyers. New Fannie Mae research examines the factors that are keeping homeowners locked in place and leaving homebuyers in the lurch.

Potential homebuyers are looking at areas with affordable home prices and lowered housing costs, according to a new WSJ/Realtor.com report, which showed the Midwest is emerging as a new option for home shoppers despite facing low inventory and a quick market pace.

According to Black Knight's latest Mortgage Monitor report, purchase locks fell 7.4% from June, while mortgage rates topped 7% in July for the first time since last fall. Click through to see the latest findings.

According to Black Knight's Originations Market Monitor report, overall rate lock volumes were down 1% month-over-month in June, with conforming loans gaining share mainly at the expense of nonconforming loan products.

"High inflation and the Fed's actions to curb it have had a significant impact on the housing market this year. And while inflation has begun to ease, the sustained spike in mortgage rates was enough to stifle the housing market after several years of low rates and strong activity," said Realtor.com Chief Economist Danielle Hale.

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.

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.