July’s Mortgage Lock Volume Flat Amongst Rising Rates in MCT’s Latest Indices Report for Aug. 2023
SAN DIEGO, Calif. /California Newswire/ — Mortgage Capital Trading, Inc. (MCT®), a leading mortgage hedge advisory and secondary marketing software firm, reported today a relatively flat .44% increase in mortgage lock volume over the prior month. Visit MCT’s site to download the full report.
The relatively flat change in volume is likely attributed to seasonal momentum through Summer. “While July’s mortgage lock volume remained relatively flat, mortgage rates continued to climb through July,” said MCT’s COO, Phil Rasori. “If rates continue to hold or climb from these new levels established in the first week of August, we can expect volume to drop.”
The Fed’s July decision to raise the Federal Funds Rate has contributed to an eight-month high for mortgage rates. This, coupled with the highest 10-year treasury yield in years and Fitch’s recent decision to downgrade the U.S. credit rating, could spell rough seas ahead for the mortgage industry.
This month’s MCT Indices also shows a roughly 13% drop in total lock volume from this time last year. However, this morning’s August Nonfarm payroll report could be offering signs of hope. “If this morning’s indications of a slightly cooling labor market were to persist into the future, this would provide more cover for the Fed to continue to pause and eventually cut rates,” said Mr. Rasori.
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.
Download the full report at: https://mct-trading.com/press-release/july-mortgage-lock-volume-flat-rising-rates-indices-report/
About MCT:
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.
Reach Out
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.
Our Services:
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.
Content Creation
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 Curating
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.
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.
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.
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 mybusinessdirectoryservices@gmail.com.
Warm regards,
The Top 10 Best Luxury Apartments in Riverside CA Team
Reach Out
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.
Our Services:
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.
Content Creation
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 mybusinessdirectoryservices@gmail.com.
Warm regards, The Top 10 Best Luxury Apartments in Riverside CA Team
