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Mortgage Market Index
A barometer of upcoming originations, the Mortgage Market Index includes data on jumbo, FHA and refinance activity. |
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| Purchases Up as Refis Slip and Rate Set to Slide
Mortgage Market Index 215 for the week ended April 6
April 6, 2012
By MortgageDaily.com staff
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An uptick in purchase, jumbo and adjustable-rate activity this week was offset by easing in refinance and government business. Mortgage rates slipped this week and might tumble in the next report.
At 215, the U.S. Mortgage Market Index from Mortech Inc. and Mortgage Daily for the week ended April 6 was unchanged from the week ended March 30. But the index, which reflects pricing inquiries pulled by loan originator clients of Mortech, has improved 8 percent from the same week last year.
Refinance inquiries were down 2 percent from last week but 61 percent higher than the week ended April 8, 2011. At the same time, the share of overall inquiries that were for refinances slipped to 61 percent from 62 percent but was up from 41 percent a year ago. This week's share was based on a 48 percent rate-term share and a 13 percent cashout share.
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Refinance News | Refinance Share Statistics
News about refinancing programs, pricing and production. Stories about the H o m e
Affordable Refinance Program, H A R P 2.0 and other Making Home Affordable coverage.
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Mortgage Rate News | Mortgage Market Index | ARM indices | ARM Statistics
Average fixed and ARM rates. Rate forecasts. Quotes on ARM indexes including COFI, MTA, LIBOR & Treasuries. Rate reset studies and reports. Mortgage rate litigation.
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Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.
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Jumbo Mortgage News
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Mortgage Market Index powered by
LoanSifter
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MMI home page
2013 weekly MMI
2012 weekly MMI
2011 weekly MMI
2010 weekly MMI
2009 weekly MMI
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About the Mortgage Market Index
The U.S. Mortgage Market Index launched on Dec. 17, 2009.
The index itself reflects the average number of rate locks each week per Optimal Blue originator-user. The index is an excellent indicator of upcoming mortgage production.
A byproduct of the Mortgage Market Index is a full report each week that includes the latest mortgage rates, refinancing trends and other important mortgage data.
On April 12, 2013, LoanSifter began supplying the underlying data for the Mortgage Market Index. As a result, the basis for index activity was changed to average pricing inquiries per LoanSifter user. Read white paper about LoanSifter data.
On Dec. 14, 2012, Optimal Blue replaced Mortech Inc. as the data provider for the Mortgage Market Index. As a result, rate locks replaced pricing inquiries as the basis for activity.
On Jan. 16, 2012, data for jumbo share and a jumbo index was added.
On Jan. 13, 2012, an adjustment was made to the calculation for the share of refinances versus purchases. This had the effect of increasing the weekly refinance share from 66.3% to 70.0% and reducing the purchase share by the difference.
On Feb. 11, 2011, the end of the week for the Mortgage Market Index was moved from Wednesday until Friday.
ARM-share data was added as of Feb. 11, 2011.
On June 9, 2010, a programming glitch was identified that caused the Mortgage Market Index itself to reflect data that was one week old. The glitch impacted reports issued from April 14, 2010, to June 2, 2010. The reports have been revised to reflect the correct index.
As of March 24, 2010, the Mortgage Market Index converted from utilizing an inquiries-per-user metric to an actual index value. The modification, which was made as part of ongoing efforts to improve the index, was applied to previously issued reports. This change did not impact, however, the level of weekly changes.
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Refinance News
News about refinancing programs, pricing and production.
H A R P 2.0 news.
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Origination News
Originations by Lender
Origination Statistics
FHA Originations
Market Share Statistics
Mortgage Statistics
Mortgage Rate News
ARM indices
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