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June mortgage rate-lock volume rises as purchase demand strengthens

Optimal Blue said 30-year conforming mortgage rates finished June at 6.45%, while purchase pull-through improved to 81.4% and non-conforming share rose above 19%.

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HousingWire reports that Optimal Blue’s June 2026 mortgage rate-lock volume increased 10% from May and 15% from a year earlier, with purchase locks driving the monthly gain.

The firm said purchase lock volume rose 10% month over month and 14% year over year, reaching its highest level since early spring, and that purchase loans made up more than 81% of all rate locks during June.

Refinance activity was described as stable, with refinances representing 19% of total lock volume. Cash-out refinance volume grew 11% from May and 10% from a year earlier, while rate-and-term refinances rose 6% month over month and 32% year over year.

Optimal Blue also highlighted a shift in loan mix, with non-conforming loans growing to more than 19% of production, its highest share in several years, and non-qualified mortgages at 9% of lock volume. It added that FHA loans accounted for nearly 19% of production and VA loans for almost 13%, while the 30-year conforming rate ended June at 6.45% and the 10-year Treasury note yield finished at 4.44%.

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