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Rate lock volume rose 31% in June: MCT

Mortgage rate volume climbed 31% in June, according to the latest report from Mortgage Capital Trading.

That figure, which is based on actual locked loans, came after a 15% drop in May’s total lock production. Mortgage rates in June were generally in the 6.7% range.

“We saw originations towards the end of May slow down, so this is likely a summertime pickup in originations,” said Andrew Rhodes, senior director and head of trading at MCT. “Rates, housing supply, and affordability will continue to be the forces behind the lack of new originations.”

MCT said additional rate hikes are anticipated details ⇒

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