Rate lock volume is down by 68% despite drop in mortgage rates
Housing Wire
DECEMBER 12, 2022
Mortgage rates were on a declining trend in November despite the Federal Reserve ‘s efforts to tame inflation — but lower rates haven’t been enough to convince home buyers to lock in their mortgages rates in this volatile market. Rate lock dollar volume was down 21.5% month over month in November, remaining at the lowest level since February 2019, according to Black Knight ‘s originations market monitor report.
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