In February, the mortgage industry saw a significant uptick in purchase locks, indicating a strong seasonal demand for home purchases. This increase occurred despite the impact of higher interest rates, which resulted in a sharp decline in refinance activity.
Key points:
– Seasonal spike in purchase locks observed in the mortgage industry in February
– Higher interest rates led to a decrease in refinancing transactions
– The market remains robust for home purchases, despite challenges posed by rising interest rates.
You can read this full article at: https://www.housingwire.com/articles/rate-lock-volume-rose-going-into-the-spring-buying-season/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
