News Source: Optimal Blue
Optimal Blue Issues April 2024 Originations Market Monitor
PLANO, Texas, May 13, 2024 (SEND2PRESS NEWSWIRE) — Optimal Blue today released its April 2024 Originations Market Monitor report, which reveals the first year-over-year increase in purchase mortgage lock counts since the Federal Reserve initiated rate hikes in March 2022.
Image caption: Optimal Blue.
“Purchase lock counts are a key market indicator as they control for changes in home prices and more volatile refi activity, so the year-over-year increase in April is a particularly encouraging sign that mortgage production may be turning a corner,” said Brennan O’Connell, director of data solutions at Optimal Blue. “While we are cautiously optimistic, May figures will provide further confidence in the positive trend, as April 2024 numbers got a boost from the Easter holiday landing in March this year.”
Key findings from the April 2024 Originations Market Monitor report, which are drawn from direct-source mortgage lock data, include:
The full April 2024 Originations Market Monitor report provides further detail on these findings and more insights into U.S. mortgage market trends: https://www2.optimalblue.com/wp-content/uploads/2024/05/OB_OMM_APR2024_Report.pdf
About the OMM Report:
Each month, Optimal Blue issues the Originations Market Monitor report, which provides early insight into U.S. mortgage trends. Leveraging lender rate lock data from the Optimal Blue PPE — the mortgage industry’s most widely used product, pricing, and eligibility engine — the Originations Market Monitor provides a view of early-stage origination activity. Unlike self-reported survey data, mortgage lock data is direct-source data that accurately reflects the in-process loans in lenders’ pipelines.
Nothing herein shall be construed as, nor is Optimal Blue providing, any legal, trading, hedging, or financial advice.
About Optimal Blue:
Optimal Blue is a market leader in mortgage secondary marketing technology. The company facilitates transactions among mortgage market participants through its Marketplace Platform, actionable data, and technology vendor connections. The platform supports a range of functions for originators and investors to automate and optimize core processes related to product, pricing, and eligibility, hedge analytics, MSR valuation, loan trading, social media compliance, and counterparty oversight. The company’s premier products are used by 68% of the top 500 mortgage lenders in the U.S. For more information on Optimal Blue’s end-to-end secondary marketing automation, visit OptimalBlue.com.
This press release was issued on behalf of the news source (Optimal Blue), who is solely responsible for its accuracy, by Send2Press Newswire.
To view the original story, visit: https://www.send2press.com/wire/mortgage-purchase-lock-counts-see-first-yoy-gain-since-fed-rate-hikes-began-two-years-ago/
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