Tag Archives: Rate/Term Refinances

"August was another rough month for mortgage borrowers from an interest rate perspective," said Andy Walden, VP of Enterprise Research and Strategy at Black Knight, now a part of ICE.

According to Mortgage Capital Trading, rate/term refinance volume was down 21.88%, cash-out refinance volume was down 21.77%, and lock activity in total was down 15.87% in total compared to April.

"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.