High Mortgage Rates & Low Supply Drag Down Mortgage Volume in MCT Oct. 2023 Indices Report
SAN DIEGO, Calif. /California Newswire/ — Mortgage Capital Trading, Inc. (MCT®), a leading mortgage hedge advisory and secondary marketing software firm, reported today a significant dip of 13.29% in mortgage lock volume over the prior month.
Following the last month-over-month 4.76% drop, this downward trend in mortgage lock volume is attributed to an increase in mortgage rates throughout the last month to high sixes and low sevens as the primary culprit, and lack of supply and unattractive housing values being secondary reasons. “We are hopeful that we will get some better sentiment from the Fed in either its November or December meeting which would allow for some relief for rates,” said Andrew Rhodes, Senior Director, Head of Trading at MCT, “But without that, high-interest rates will continue to be the prevailing force weighing on the market.”
Eyes in the coming winter months will be on any shift in CPI and non-farm payroll, two indicators the Fed will look to as it makes its decisions for the rest of the winter and into Q1. “As long as those numbers continue to stay strong or in line with the consensus, I believe the rates are going to stay where they are. If we see a strong shift in either direction for CPI or non-farm payroll, that could mean we will either see an increase in rates or we will get more verbiage on pausing and it being close to terminal.” states Mr. Rhodes.
Download the full MCT October Indices Report for further information, including year-over-year charts and data. MCT’s Lock Volume 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 MCT’s national footprint.
For over two decades, MCT has been a leading source of innovation for the mortgage secondary market. Melding deep subject matter expertise with a passion for emerging technologies and clients, MCT is the de facto leader in innovative mortgage capital markets technology. From architecting modern best execution loan sales to launching the most successful and advanced marketplace for mortgage-related assets, lenders, investors, and network partners all benefit from MCT’s stewardship. MCT’s technology and know-how continues to revolutionize how mortgage assets are priced, locked, protected, valued, and exchanged – offering clients the tools to thrive under any market condition.
For more information, visit https://mct-trading.com/ or call (619) 543-5111.
Learn More: https://mct-trading.com/
This version of news story was published on and is Copr. © 2023 California Newswire® (CaliforniaNewswire.com) – part of the Neotrope® News Network, USA – all rights reserved.
Information is believed accurate but is not guaranteed. For questions about the above news, contact the company/org/person noted in the text and NOT this website.
Should you have any inquiries or unique requirements related to luxury apartment living in Riverside, CA, please don’t hesitate to get in touch. Our passionate team is on standby, excited to offer tailored solutions that align with your distinct living preferences and desires. We are dedicated to enhancing your apartment hunting experience in Riverside's upscale neighborhoods.
Luxury Apartment Blogging
Our team crafts meticulously researched, up-to-date, and engaging blog posts that resonate with the sophisticated tastes of our audience, positioning Top 10 Best Luxury Apartments in Riverside CA as a premier guide in the luxury living space.
Our expertise is not just limited to blog posts. We specialize in comprehensive content offerings such as luxury living guides, neighborhood highlights, and deep-dives into unique apartment features, all tailored to illustrate the grandeur of Riverside’s luxury apartments.
Website Content Writing
A website's initial impact is crucial. Through our content, we guarantee that our website mirrors the elegance, exclusivity, and top-tier offerings Riverside's luxury apartments have to offer, and if you need articles for your business, we offer that too.
Social Media Management
In the dynamic landscape of today's digital age, maintaining a notable presence on social platforms is essential. Our team adeptly manages this aspect, ensuring that Riverside’s luxury apartments are portrayed consistently and impressively across all channels. We also offer Social Media Management for you as a service, we post on your Facebook account as often as you wish.
Website Maintenance for User Experience
Our aim is to make your online journey as seamless and luxurious as the apartments we list. To this end, we ensure our website remains updated, secure, and user-centric, making apartment hunting a delightful experience. We offer WordPress Website Maintenance for your business website if needed.
For further details, inquiries about ad placements, content requests, social media engagements, or listings on Top 10 Best Luxury Apartments in Riverside CA, feel free to contact us at email@example.com.
Warm regards, The Top 10 Best Luxury Apartments in Riverside CA Team