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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MMG's Bodnar: We've Been Watching This Movie All Year Bill Bodnar of the Mortgage Market Guide breaks down the jobs report, why and how it came in above expectations, and what that means just days ahead of the Fed meeting.
Estimated reading time: 0 minutes, 22 seconds
Rate Lock Volume Keeps Falling From 2021’s Boom Levels: MCT
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.
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