Lock volume sinks as high mortgage rates crush refinancing activity

Lock volume sinks as high mortgage rates crush refinancing activity

Rising mortgage rates are beginning to take a toll on rate-lock activity. According to a report from Optimal Blue, total rate-lock volume in May decreased by 5.87% compared to last month, driven by a 255 basis-point drop in refinance application pull-through to 62.3%. Mortgage rates popped back up to 7% in the aftermath of the new global tariff regime announced by President Donald Trump on April 2, as it tanked stock markets, the bond market and…

Mortgage rates: Is this the end of the sub-4% deal era?

Barclays and HSBC have announced mortgage rate increases this week as NatWest revealed it was cutting prices. The post Mortgage rates: Is this the end of the sub-4% deal era? appeared first on what MORTGAGE.