{"id":91868,"date":"2023-07-07T11:00:02","date_gmt":"2023-07-07T15:00:02","guid":{"rendered":"https:\/\/www.send2press.com\/wire\/?p=91868"},"modified":"2023-07-06T20:05:25","modified_gmt":"2023-07-07T00:05:25","slug":"monthly-lock-volume-increases-31-in-latest-mct-indices-report","status":"publish","type":"post","link":"https:\/\/www.send2press.com\/wire\/monthly-lock-volume-increases-31-in-latest-mct-indices-report\/","title":{"rendered":"Monthly Lock Volume Increases 31% in Latest MCT Indices Report"},"content":{"rendered":"

SAN DIEGO, Calif., July 7, 2023 (SEND2PRESS NEWSWIRE) — Mortgage Capital Trading, Inc. (MCT\u00ae), a leading mortgage hedge advisory and secondary marketing software firm, reported today a 31% increase in lock volume in June. Visit MCT\u2019s website to download the full report.<\/a><\/p>\n

\"Monthly
Image Caption: Caption: Chart – Monthly Lock Volume Increases 31% in Latest MCT Indices Report.<\/em><\/p>\n

The increase in June\u2019s lock volume activity, which is based on actual locked loans, comes after a 15% drop in May\u2019s total lock production.<\/p>\n

\u201cWe saw originations towards the end of May slow down, so this is likely a summertime pickup in originations,\u201d said Andrew Rhodes, Senior Director and Head of Trading at MCT. \u201cRates, housing supply, and affordability will continue to be the forces behind the lack of new originations.\u201d<\/p>\n

While the meeting minutes from June\u2019s decision to pause hikes show some disagreement, additional rate hikes are expected and may continue to keep origination volume at a new normal.<\/p>\n

\u201cThe current commentary coming from the Fed puts the market on its heels as there is a potential for another two rate hikes this year,\u201d said Rhodes. \u201cWith this new narrative, rates will continue to push higher especially if we see another strong labor market read coming out on Friday.\u201d<\/p>\n

This month\u2019s MCT Indices also shows a nearly 8% drop in total lock volume from this time last year. After hitting lows at the beginning of the year for purchase, rate\/term refinance, and cash out refinance, each production type continues to creep slowly upward.<\/p>\n

As we look into the future, economic reports will continue to have a big impact on the Fed\u2019s decision making and market movements.<\/p>\n

\u201cIf labor markets cool off, that could give the Fed a reason not to raise rates in July,\u201d Rhodes continued. \u201cThis would provide a nice bounce in the markets, but I\u2019m not holding my breath.\u201d<\/p>\n

MCT\u2019s Rate Lock Indices present a snapshot of rate lock volume activity in the residential mortgage industry broken out by lock type (purchase, rate\/term refinance, and cash out refinance) across a broad diversity of lenders (e.g., sizes, products\/services offered, business models) from our national footprint.<\/p>\n

Download report at: https:\/\/mct-trading.com\/press-release\/july-mct-lock-volume-indices-report\/<\/a><\/p>\n

About MCT:<\/strong><\/p>\n

Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry\u2019s leading provider of fully integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark to market services, and an award-winning comprehensive capital markets software platform called MCTlive! MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes. Headquartered in San Diego, California, MCT also has offices in Philadelphia, Healdsburg, and San Antonio. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love.<\/p>\n

For more information, visit https:\/\/mct-trading.com\/<\/a> or call (619) 543-5111.<\/p>\n

MULTIMEDIA:<\/strong><\/p>\n

IMAGE link for media: https:\/\/www.Send2Press.com\/300dpi\/23-0707-s2p-mctjune-300dpi.jpg<\/a><\/p>\n

Caption: Chart – Monthly Lock Volume Increases 31% in Latest MCT Indices Report.<\/p>\n

MEDIA CONTACT:<\/strong><\/p>\n

Ian Miller<\/p>\n

Chief Marketing Officer<\/p>\n

Mortgage Capital Trading<\/p>\n

619-618-7855<\/p>\n

pr@mctrade.net<\/p>\n","protected":false},"excerpt":{"rendered":"

SAN DIEGO, Calif., July 7, 2023 (SEND2PRESS NEWSWIRE) — Mortgage Capital Trading, Inc. (MCT®), a leading mortgage hedge advisory and secondary marketing software firm, reported today a 31% increase in lock volume in June. Visit MCT’s website to download the full report. The increase in June’s lock volume activity, which is based on actual locked loans, comes after a 15% drop in May’s total lock production.<\/p>\n","protected":false},"author":5216,"featured_media":91866,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[39,12804,1,10,38,264,78],"tags":[18521,10175],"class_list":["post-91868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgage-news","category-ap","category-business-news","category-california-news","category-finance-news","category-research-reports-news","category-san-diego-news","tag-mctlive-lock-volume-indices","tag-mortgage-hedge-advisory","has-post-title","has-post-date","no-post-category","no-post-tag","no-post-comment","has-post-author"],"acf":[],"views":3107,"_links":{"self":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/91868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/users\/5216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/comments?post=91868"}],"version-history":[{"count":0,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/91868\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media\/91866"}],"wp:attachment":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media?parent=91868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/categories?post=91868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/tags?post=91868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}