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Refinances tick up and non-QM hits record high as purchase activity falls nearly 5% in July
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IMAGE CAPTION: Optimal Blue’s July 2025 Market Advantage mortgage data report. | Optimal Blue today released its July 2025 Market Advantage mortgage data report, which found a 3% month-over-month (MoM) drop in overall rate lock volume, led by a nearly 5% drop in purchase activity as affordability remained strained.
- Lenders respond to affordability pressures with loan product diversity and pricing strategies - PLANO, Texas, Aug. 12, 2025 (SEND2PRESS NEWSWIRE) — Optimal Blue today released its July 2025 Market Advantage mortgage data report, which found a 3% month-over-month (MoM) drop in overall rate lock volume, led by a nearly 5% drop in purchase activity as affordability remained strained. Mortgage rates rose MoM across all loan types. The OBMMI 30-year conforming fixed rate, the benchmark for CME Group’s Mortgage Rate futures, ended July at 6.72%, up 5 basis points (bps).