June lending activity bounced back following two down months in the typical
After
However, overall lending plummeted 21.3% annually, given the
“Overall locks climbed in June,” Scott Happ, president of secondary marketing technologies at Black Knight, said in a press release. “Despite rates returning to
The
Out of the 20 largest metropolitan areas by origination volume in June, Denver saw the most growth from May, rising 10.3%. Philadelphia followed with a 9.2% gain, trailed closely by 8.8% in Sacramento, Calif. Four markets had monthly declines, with Los Angeles falling furthest in volume at 4.7%, Seattle at 4.1%, San Francisco at 1.8% and Washington, D.C. at 1.1%.
Despite the drop from May, Los Angeles kept its hold on top spot in market share with 4.8% of the national total. The Washington D.C. metro area accounted for 4.5% and New York came next at 4.1%. Only six of the 20 had majority refinance shares, led by 57% in both Los Angeles and San Diego.