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At the end of 2022 and early into 2023, there was some expectation that home prices would drop this year, in part because of skyrocketing interest rates. For a while, prices did fall, but new data...
"There is no doubt that the housing market has reignited from a home-price perspective," Black Knight said.
Nationally, nearly 90% of locks in June were for purchase mortgages. But in some metros, refis are closer to 20% of the pie, according to Black Knight.
"There is no doubt that the housing market has reignited from a home-price perspective," Black Knight said.
A worsening housing shortage drove up the price of U.S. homes to the highest level on record, even as would-be buyers grapple with steeper mortgage rates.