Mortgage Volume Will Break a Record in 2020; Staggering Concentration of Big-Ticket Risks This Week
Black Knight concurs with an earlier forecast from the Mortgage Bankers Association, that 2020 will have a higher level of mortgage originations in 2020 than was registered in 2019. Black Knight, in its new Mortgage Monitor covering September loan performance data, said its interpretation of recent rate lock information suggests that, for the first time ever, the market is on track to top $4 trillion in originations. Rate lock activity in September was relatively even with that in August increasing a nominal 1 percent. Purchase locks were down 2 percent, typical for the season, while refinance locks were essentially unchanged. However, lock activity picked up in October, rising 4 percent through the first half of the month. Purchase locks were up 6 percent and refinancing locks rose 3 percent
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