Overall rate lock volume tumbled 46.5% in July when compared with the lofty heights reached during the same month last year. That’s according to Mortgage Capital Trading’s latest MCTlive! Lock Volume Indices.
At the same time, rate/term refinance lock volumes were up 11% from June 2022 because of a rebound in bonds, according to MCT.
Overall month-to-month mortgage rate locks slipped 1.5% in July, MCT’s figures showed.
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