According to the Mortgage Bankers Association, lock activity increased last month compared to the previous month. This is across the board for all loan types, including government-sponsored enterprises (GSEs), portfolio, and private-label securities (PLSs).

According to Joel Kan, MBA’s AVP of Industry Surveys and Forecasting, “March was another strong month for the overall mortgage market as applications for both purchases and refinances increased. Purchase applications were up 9% compared to a year ago, and government refinance applications continued to be strong, increasing by 12% for the month.”

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