Rate lock volume activity in the residential mortgage industry increased across the board in March after dipping in February, according to data compiled by the Mortgage Capital Trading, Inc. (MCT) MCTlive! Lock Volume Indices report.

In March, purchase lock activity increased 23% compared to February, according to the report, while rate/term refinance volume grew by 39%. Cash-out refinance volume also saw an increase of 28% last month, while overall lock activity spiked 24% compared to the month prior.

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