In July 2024, mortgage refinance activity reached its highest since Sept 2022 due to softening rates, driving a 3.5% monthly increase in lock volumes.
In July 2024, Optimal Blue's mortgage data report showed that mortgage refinance activity hit its highest levels since September 2022, driven by softening interest rates. This led to increased purchase activity, resulting in a 3.5% month-over-month boost in mortgage rate lock volumes. Cash-out refinances rose 5.9%, while rate-and-term refinance activity increased by 12.3%.
August 12, 2024
6 Articles