June 2022 data – The Durango Herald

SAN DIEGO, Calif., July 11, 2022 (SEND2PRESS NEWSWIRE) — MCT®, the leader in software and services for capital markets supporting more lenders with hedging and pipeline management solutions than any other single vendor, is happy to present the MCTlive! Foreclosure volume indices for June 2022. MCT data represents a balanced representative sample of several hundred lenders across direct retail, correspondent, wholesale and consumer channels. An overview of the entire market provides a more accurate picture of mortgage originations compared to indices that are influenced by mega lenders. June’s MCTlive! Foreclosure volume indices are broken down by transaction type: purchase, rate/term refinance and cash refinance.

June Live MCTs! Foreclosure volume indices show the total number of mortgage rate foreclosures by dollar volume fell 3.8% in June, and total foreclosure volume is down 32.0% from a year ago. one year, with purchases continuing to make up the bulk of outsourcer volume. Buy locks were down 1.63% month over month, but only 4.6% from a year ago. Rising mortgage rates are also evident as refinancing volume continues to decline. Rate/term refinances were down 12.4% and cash refinances were down 18.7% month-on-month. Over the past year, cash refinancing volume has decreased by 64.5%, while rate/term refinancing volume has fallen by 90.4%. Given that rate/term refinance volume was already down 90% year over year in May’s MCTlive! Lock in the volume indices, this month’s drop doesn’t change much overall. 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 having 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 THROUGH THE END OF MAY AS A PERCENTAGE FROM THE BEGINNING OF THE MONTH

Category | Change in the value of the index from month to month

Sum: -3.83%

Purchase: -1.63%

Rate/Term Refinancing: -12.43%

Refinancing by withdrawal: -18.74%

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

Sum: -32.03%

Purchase: -4.63%

Rate/Term Refinancing: -90.39%

Refinancing by withdrawal: -64.47%

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.

About MCT:

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: 83326 APDF-R8.6

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