twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Mortgage Market Index
A barometer of upcoming originations, the Mortgage Market Index includes data on jumbo, FHA and refinance activity.
www.openclose.com

Refi Activity Nearly Doubles

Mortgage Market Index 358 for week ended Aug. 5

Aug. 8, 2011

By MortgageDaily.com staff


Driven by a burst of new refinance activity, the U.S. Mortgage Market Index from Mortech Inc. and Mortgage Daily reached its highest level since launching. Behind the rosy performance were falling interest rates -- and market activity today suggests more improvement is ahead.

The index for the week ended Aug. 5 was 358, leaping from 230 a week earlier. It was also higher than 325 during the same week in 2010.

The Mortgage Market Index has never been this high since its launch in late 2009.

Behind last week's strong performance were refinances -- which rose 91 percent from the previous week. Refinances were 14 percent better than a year earlier.

Refinance share was propelled to 64 percent from 52 percent the previous week. The latest share reflected a 51 percent rate-term share and a 13 percent cashout share.

Purchase production picked up steam, increasing 17 percent over the prior seven days.

Although the proportion of borrowers who were shopping for an adjustable-rate mortgage fell to 8.66 percent from the previous week's 11.01 percent, ARM activity was still up nearly a quarter.

It was a similar situation for loans insured by the Federal Housing Administration; FHA share fell to 9.88 percent from the prior week's 11.96 percent, but FHA inquiries rose 25 percent.

Conventional business climbed 60 percent during the most recent week.

New mortgage activity shot up as the 30-year fixed-rate mortgage fell 27 basis points to 4.44 percent. The 30 year, however, was higher than 4.36 percent in the year-prior week.

Today's Treasury market activity suggests that the 30-year could be nearly 20 BPS better by next week's report. The yield on the 10-year Treasury was 2.39 percent near midday, better than 2.58 percent at Friday's close, data from the Department of the Treasury and WSJ.com indicate.

The spread between the jumbo 30-year mortgage and the conforming 30 year widened to 47 BPS from 43 BPS a week prior in the Mortgage Market Index report.

The spread between conforming 15-year loans and 30-year mortgages fell to 82 BPS from 88 BPS -- making the shorter-term product less attractive.

next story

back to current headlines


Full Mortgage Market Index Report



Week Ended Aug. 5, 2011



National Average Loan Amount
$224,928



Top 3 States state
$293,843 DC
$286,314 HI
$285,614 MA



Bottom 3 States state
$147,248 SD
$154,386 NE
$157,286 WV



National Average Rate-Term Refinance Amount
$242,172



Top 3 States state
$334,286 HI
$292,549 DC
$290,201 MA



Bottom 3 States state
$151,605 ND
$158,493 SD
$161,268 NE



National Average Cashout Refinance Amount
$217,835



Top 3 States state
$306,119 DC
$301,509 HI
$273,673 MA



Bottom 3 States state
$128,874 SD
$140,062 VT
$145,839 NE



National Average Jumbo Loan Amount
$640,477



Top 3 States state
$958,308 OK
$843,654 AZ
$838,885 MO



Bottom 3 States state
$501,250 WV
$529,453 NH
$535,524 WI



National Rate-Term Refinance Share
50.61%



National Cashout Refinance Share
13.29%



National Total Refinance Share
63.90%



HOT PRODUCTS
Product state State Average
Conv30 MA $305,233
Conv30 MO $207,039
Conv15 MA $289,475
Conv30 CA $296,343
Conv30 TX $226,546
Conv15 MO $200,509
Conv30 NJ $290,350
Conv30 IL $248,873
3 MA $295,732
Conv30 PA $228,025
Conv30 NC $250,520
Conv30 KS $195,636
Conv15 TX $211,333
Conv30 NE $169,207
Conv15 PA $230,114



Average rate for each product from All investors Product
4.440% Conv30
3.616% Conv15
3.137% 5-1LiborARM
4.229% FHA30
3.575% FHA15
4.228% VA30
4.909% Jumbo30



Mortgage Market Index
358



National ARM Share
8.660%



National FHA Share
9.880%




Mortgage Market Index 358 for week ended Aug. 5


back to main Mortgage Market Index page

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.


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.


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.


Jumbo Mortgage News

FHA News | Government Resources | M o r t g a g e e Letters | FHA Statistics
FHA, VA and HECM mortgage news. HUD and G i n n i e news also. Originations, servicing and FHA approval.



Logout forgot
password?


Mortgage Market Index powered by
OpenClose



Weekly MMI
by Year:

current

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009



About the Mortgage Market Index
The U.S. Mortgage Market Index was first launched in December 2009 at 197.

The index, itself, reflects the average number of per-user rate locks by clients of OpenClose for the seven days ended each Thursday at midnight. OpenClose has been the data provider since June 2015.

The MMI is an excellent indicator of upcoming mortgage originations.

A byproduct of the Mortgage Market Index is a full report each week that includes the latest share by loan type, the jumbo-conforming spread and details about refinance and government activity -- as well as other important mortgage data.



SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders