MCTlive! Lockdown volume indices: August 2022 data | National
SAN DIEGO, Calif., Sept. 7, 2022 (SEND2PRESS NEWSWIRE) — MCT®, the leader in capital markets software and services supporting more lenders with hedging and pipeline management solutions than any other single vendor, is happy to present the MCTlive! Foreclosure volume indices for August 2022. MCT data represents a balanced representative sample of several hundred lenders across retail, correspondent, wholesale and consumer direct channels. An overview of the entire market provides a more accurate picture of mortgage originations compared to indices that are influenced by mega lenders. August’s MCTlive! Foreclosure volume indices are broken down by transaction type: purchase, rate/term refinance, and cash refinance.
August Live MCTs! Lockdown volume indices show that total lockout volume year over year (-53.0%) continues to decline, as expected, from the hot summer of 2021. After the monthly increase from the refinance/term refinance rate of 11% in August due to a slight drop in mortgage rates, the index fell by 46% in August. Total mortgage rate locks in dollar volume fell 28.5% in August, with buy locks down 27.8% month-on-month and 23.4% month-on-month. to a year ago. Refinancing by collection was down 5.3% month-on-month. Compared to a year ago, cash refinancing volume decreased by 80.0%, while rate/term refinancing volume fell by 95.2%. Please note that loan sizes have increased by 8.3% over the past year, with the average loan size increasing from $291,000 to $315,000.
It is important to note that MCT’s rate blocking activity indices are based on the actual dollar volume of blocked loans, not the number of requests. Especially in a tight buying market, MCT believes its methodology (using actual blocked loans versus applications) is a more reliable measure. There is a greater likelihood of multiple applications per funded loan, and prequalifications do not convert at as high a rate in today’s market as they once did, especially when applications are counted at the start of loan entry. a property address.
INDEX VALUES AT THE END OF AUGUST IN PERCENTAGE OF REFERENCE AT THE BEGINNING OF THE MONTH
Category | Change in the value of the index from month to month
Rate/Term Refinancing: -28.38%
Refinancing by withdrawal: -46.01%
CHANGE IN THE VALUE OF THE INDEX FROM ONE YEAR TO THE ANOTHER
Category | Variation in the value of the index from one year to the next
Rate/Term Refinancing: -95.16%
Refinancing by withdrawal: -79.99%
MCT will release the MCTlive! Mortgage Lock Volume Indices monthly, intended to serve as a long-lasting information tool for participants, analysts and industry observers.
Founded in 2001, Mortgage Capital Trading, Inc. (MCT)® has grown from a mortgage portfolio hedging company to the premier provider of fully integrated financial markets technology and services. MCT’s offerings include mortgage pipeline coverage, best execution loan sales, business intelligence and analytics, outsourced foreclosure solutions, MSR valuation, hedging and wholesales , and the world’s first truly open marketplace for loan sales. MCT supports independent mortgage bankers, custodians, credit unions, warehouse lenders and correspondent investors of all sizes within its award-winning digital platform, MCTlive! ®. Based in sunny San Diego, MCT also has offices in Healdsburg, California, Philadelphia, Pennsylvania and Texas.
For more information, visit https://mct-trading.com/ or call (619) 543-5111.
NEWS SOURCE: Mortgage Capital Trading Inc.
This press release has been issued on behalf of the source of the information (Mortgage Capital Trading Inc.) which is solely responsible for its accuracy, by Send2Press® Newswire. The information is believed to be accurate but not guaranteed. Story ID: 84820 APDF-R8.6
© 2022 Send2Press®, a press release and electronic marketing service of NEOTROPE®, California, USA.
To see the original version, visit: https://www.send2press.com/wire/mctlive-lock-volume-indices-august-2022-data/
Disclaimer: The content of this press release was not created by The Associated Press (AP).
Copyright 2022 Send2Press Newswire