Black Knight Inc. has released its latest Originations Market Monitor report, looking at mortgage origination data through June month-end by leveraging daily rate lock data from the Black Knight Optimal Blue PPE. The month’s pipeline data showed overall rate locks down 11.1% month-over-month, led by a 13.2% decline in cash-out refinance locks, which are now down 42.2% since last June.
“This continues to be a challenging environment for mortgage originators,” observes Scott Happ, president