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MCT Reports A 7% Mortgage Lock Volume Increase In Latest Indices Report

SAN DIEGO, Calif., June 10, 2024 (SEND2PRESS NEWSWIRE) — Mortgage Capital Trading, Inc. (MCT®), the de facto leader in innovative mortgage capital markets technology, announced today an increase of 6.78% in mortgage lock volume compared to the previous month. To gain comprehensive insights into the market dynamics, industry professionals and enthusiasts are invited to download the complete report.

MCT: Lock Volume for May by Transaction Type
Image Caption: Lock Volume for May by Transaction Type.

As mortgage lock volume edges upward during the buying season, the mortgage industry continues to monitor economic indicators that will factor into the Federal Reserve’s decision on how long to hold rates.

Early May economic indicators present a mixed bag, which could give the Federal Reserve reason to hold rates longer. While April’s Consumer Price Index (CPI) aligned with predictions, the May Nonfarm Payroll report far exceeded forecasts with an additional 272,000 jobs.

The combination of the May Nonfarm Payroll and upcoming CPI report could suggest that the Federal Reserve will hold rates longer as they seek more consistent economic indicators pointing toward their goal of two percent inflation.

Andrew Rhodes, Senior Director and Head of Trading at MCT, stated, “The next couple of months will be key from a data standpoint as the Federal Reserve looks for a trend of inflation heading towards the goal of two percent. Considering the Nonfarm Payroll number that just came out, setting a trend is going to take more time. We’re looking ahead to the May CPI print to see how the Fed is going to interpret both data points. Even with CPI coming in around expectation, the jobs number could likely push the FED to further delay their rate cuts.”

To access the comprehensive insights provided by MCT’s Lock Volume Indices, interested parties are encouraged to download the full report: https://mct-trading.com/press-release/mct-reports-a-7-percent-lock-volume-increase-in-latest-indices-report/.

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.

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 continue to revolutionize how mortgage assets are priced, locked, hedged, traded, and valued – offering clients the tools to perform under any market condition.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

MULTIMEDIA:

Image link for media: https://mct-trading.com/wp-content/uploads/2024/06/mct-lock-volume-indices-20.png

Image Caption: Lock Volume for May by Transaction Type

MEDIA CONTACT:

Ian Miller

Chief Marketing Officer

Mortgage Capital Trading

619-618-7855

pr@mctrade.net

NEWS SOURCE: Mortgage Capital Trading Inc.


This press release was issued on behalf of the news source (Mortgage Capital Trading Inc.), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/mct-reports-a-7-mortgage-lock-volume-increase-in-latest-indices-report/

Copr. © 2024 Send2Press® Newswire, a service of NEOTROPE®, Calif., USA. -- REF: S2P STORY ID: 118954NOREL-2

 

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