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Today, in the Calculated Risk Real Estate Newsletter: Black Knight Mortgage Monitor: Purchase Rate Locks “are now running 39% below pre-pandemic levels”
A brief excerpt: Black Knight on purchase rate locks:
• Rate locks have slumped in response to the highest mortgage rates in more than 20 years, as the 30-year conforming topped 7.27% and 30-year jumbo offerings climbed above 7.4% on August 21
• Purchase locks are now running 39% below pre-pandemic levels – among the steepest deficits we’ve seen so far this year
• With home affordability having its tightest point since the early 1980s, demand is likely to remain subdued in the near term
emphasis addedThere is much more in the article. You can subscribe at https://calculatedrisk.substack.com/
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