JACKSONVILLE, Florida, July 12, 2021 / PRNewswire / – Today, Dark Knight, Inc. (NYSE: BKI) announced the release of its latest Originations Market Monitor report, examining mortgage origination data across June 2021 The end of the month. Drawing on daily rate lock-in data from Black Knight’s Optimal Blue PPE – the most widely used mortgage pricing engine – the Fixtures Market Monitor provides the oldest and most comprehensive view of the world. sector on the assembly activity.
“After a first increase following the Fed policy meeting in mid-June, Black Knight’s OBMMI Daily Interest Rate Tracking shows that pricing offers stabilized in the second half of the month and are now at about the same level as they were at the same time in May, ”said the president of Black Knight Secondary Marketing Technologies. Scott Happ. “After two straight months of declines – and during the typical seasonal peak in purchase lending, nothing less – overall lockdowns increased in June. Buy and pull refinances were up, but refis in which the owner improves its rate or its duration continued to fall, despite the return of rates to the levels last observed in early March. These forward rates / refis are now down by 30% from this point and by 60% since January. “
Pipeline data for the month showed overall rate locks up 3.9% from May, with a 6% increase in buy locks and a sharper 10% jump in refinancing locks. cash. The rise in buy lockdown also comes after two straight months of declines, with May’s drop mostly due to the shortened month. While the volume of purchase loan locks per day was down slightly from May, it increased for the month due to the additional three business days in June, placing purchase activity at just 5% of the March record. On the other hand, the blocking of rate / term refinancing fell by 4%, leading to a further decline in the refinancing share of the market mix, representing only 43% of origination activity in June.
“A recent analysis of Black Knight has found that borrower behavior and market composition are changing in the face of continued and record-breaking house price appreciation, ”Happ continued. “This is a continuation of the large and growing share of loans in the market and the decline in the compliant share of a result. Indeed, the compliant share of loans is down almost 750 basis points compared to last year. With stable rates and strong purchase loans, further growth in house prices could extend this trend. “
Each month’s creative market analysis provides high-level creative metrics for the United States and top 20 metropolitan statistical areas by share of total creative volume. Much more details on the June origination activity can be found in the Black Knight Origins Market Analysis Report.
About Black Knight
Black Knight, Inc. (NYSE: BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and services and real estate industries, as well as in capital markets and secondary. Businesses leverage our robust integrated solutions throughout the homeownership lifecycle to help retain existing customers, gain new customers, mitigate risk and operate more efficiently.
Our customers rely on our proven, comprehensive and scalable products and our unwavering commitment to providing superior customer support to achieve their strategic goals and better serve their customers. For more information on Black Knight, please visit www.blackknightinc.com/.
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