According to the MCTlive! lock volume indices, total lock volume fell 48.5% year-over-year and 5.4% month-over-month in September.
However, rate-term refinance locks rose 33% and purchase locks rose 6.3% month-over-month in September.
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Navigating the Dynamics of Mortgage Origination in 2023
Explore the latest trends in mortgage origination, including impacts of interest rate fluctuations, housing market dynamics, and technological advancements.
Estimated reading time: 0 minutes, 18 seconds
Rate Lock Volumes Drop in September
Rate lock activity based on dollar volume fell last month, but there were some bright spots. That’s according to an announcement from capital markets software and services provider MCT.
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