Get Cash Back and $0 Commissions
+ The Power of TradeStation
Send2Press 13-Mar-2024 3:54 AM
Photo Caption: Optimal Blue Issues February 2024 Originations Market Monitor,
Optimal Blue Issues February 2024 Originations Market Monitor
PLANO, Texas, March 11, 2024 (SEND2PRESS NEWSWIRE) -- Today, Optimal Blue released its February 2024 Originations Market Monitor report, which reveals that the spring homebuying season has kicked off with a jump in monthly purchase mortgage locks. The seasonal spike in purchase locks propelled a net increase in origination activity, even as higher interest rates led to steep declines in mortgage refinances.
Key findings from the February 2024 Originations Market Monitor report, which reflects month-over-month changes in mortgage lock data, show:
"As the spring buying season commenced, we saw a resurgence in purchase locks, despite the rise in interest rates," said Brennan O'Connell, director of data solutions at Optimal Blue. "Although lock counts were down on a year-over-year basis, the rate of decline is decelerating and suggests we may be nearing a floor for purchase lending in the current rate environment."
View the full February 2024 Originations Market Monitor report for more detail: https://www2.optimalblue.com/wp-content/uploads/2024/03/OB_OMM_FEB2024_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.
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 https://OptimalBlue.com/.
MULTIMEDIA:
IMAGE link for media: https://www.Send2Press.com/300dpi/24-0311-s2p-opbluemonitor-300dpi.jpg
Image caption: Optimal Blue Issues February 2024 Originations Market Monitor.
NEWS SOURCE: Optimal Blue
This press release was issued on behalf of the news source (Optimal Blue), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.
To view the original story, visit: https://www.send2press.com/wire/spring-buying-season-kicks-off-with-an-uptick-in-purchase-applications-despite-climbing-interest-rates/
Copyright 2024 Send2Press(R) Newswire, a service of NEOTROPE(R), Calif., USA. - REF: S2P STORY ID: 104016 BZX7
NOTE: CONTENT BELOW ON THIS PAGE, IF ANY, IS UNRELATED TO THE ABOVE NEWS ANNOUNCEMENT AND WAS NOT CREATED OR ISSUED BY SEND2PRESS NEWSWIRE.