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| U.S. Mortgage Market Index powered by |
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| Last Updated |
Friday, June 14, 2013 |
05:06 PM |
Central |
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MMI News
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3-Month Activity
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Mortgage rates have increased for six consecutive weeks, but that wasn't enough to slow down new mortgage activity. Next week's interest rates are likely to be lower.
The average number of pricing inquiries pulled per loan originator inched up less than 1 percent from last week, leaving the U.S. Mortgage Market Index from LoanSifter and Mortgage Daily for the week ended June 14 at 313.
But compared to the same week last year, the index was higher, with the year-over-year increase working out to 11 percent.
read story
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A surge in conventional refinance activity helped push up overall activity to the highest level in more than a year-and-a-half despite deteriorating interest rates.
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Even a holiday week wasn't enough to slow down home purchase financing -- which increased for the third consecutive week. But refinance business was a different story. Rising mortgage rates moved above 4 percent for the first time in more than a year and are likely to be even higher in the next report.
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Loan originators managed to overcome the slowdown that normally precedes a holiday week and pushed activity higher. Leading the way were purchase transactions and government-insured business.
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Although overall new mortgage activity was slower this week, purchase financing was up, albeit only slightly. Adjustable-rate mortgage activity also ticked higher.
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Week Ended
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MMI
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Purchase MMI
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Refi MMI
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Refi Share
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ARM MMI
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ARM Share
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Conventional MMI
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FHA MMI
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FHA Share
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Jumbo Index |
Jumbo Share |
Average U.S. Loan Amount
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Conforming 30-yr Fixed Rate
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Jumbo 30-yr Fixed Rate |
Jumbo-Conforming Spread |
Conforming 15-yr Fixed Rate |
15-yr - 30-yr Spread |
| June 14 |
312.689 |
114.620 |
198.066 |
63.34% |
18.710 |
5.98% |
225.116 |
45.612 |
14.59% |
15.563 |
4.98% |
$281,442 |
4.222% |
4.520% |
0.298% |
3.416% |
0.806% |
| June 07 |
312.604 |
114.722 |
197.882 |
63.30% |
17.677 |
5.65% |
222.309 |
45.285 |
14.49% |
15.073 |
4.82% |
$285,476 |
4.180% |
4.479% |
0.299% |
3.372% |
0.808% |
| May 31 |
251.433 |
99.527 |
151.906 |
60.42% |
12.843 |
5.11% |
176.667 |
42.182 |
16.78% |
12.759 |
5.07% |
$297,782 |
4.088% |
4.390% |
0.302% |
3.310% |
0.778% |
| May 24 |
264.186 |
93.782 |
170.404 |
64.50% |
11.982 |
4.54% |
189.418 |
40.432 |
15.30% |
13.835 |
5.24% |
$289,786 |
3.910% |
4.168% |
0.257% |
3.138% |
0.772% |
| May 17 |
255.901 |
86.984 |
168.917 |
66.01% |
12.036 |
4.70% |
183.816 |
37.757 |
14.75% |
14.269 |
5.58% |
$287,595 |
3.832% |
4.095% |
0.264% |
3.052% |
0.779% |
| May 10 |
276.393 |
86.695 |
189.698 |
68.63% |
11.617 |
4.20% |
201.430 |
38.003 |
13.75% |
15.297 |
5.53% |
$285,260 |
3.728% |
4.034% |
0.306% |
2.962% |
0.766% |
| May 3 |
303.954 |
87.510 |
216.442 |
71.21% |
13.557 |
4.46% |
224.862 |
39.587 |
13.02% |
17.106 |
5.63% |
$293,822 |
3.643% |
3.975% |
0.333% |
2.893% |
0.749% |
| April 26 |
265.258 |
83.917 |
181.339 |
68.36% |
13.116 |
4.94% |
193.155 |
36.658 |
13.82% |
15.979 |
6.02% |
$298,278 |
3.684% |
3.999% |
0.315% |
2.937% |
0.746% |
| April 19 |
267.557 |
84.069 |
183.488 |
68.58% |
13.302 |
4.97% |
192.050 |
38.416 |
14.36% |
16.775 |
6.27% |
$298,891 |
3.701% |
3.986% |
0.285% |
2.957% |
0.744% |
| April 12* |
276.771 |
85.499 |
191.264 |
69.11% |
13.391 |
4.84% |
199.272 |
40.204 |
14.53% |
16.585 |
5.99% |
$295,945 |
3.736% |
4.033% |
0.298% |
2.989% |
0.746% |
| April 5 |
246.334 |
142.159 |
104.175 |
42.29% |
10.691 |
4.34% |
202.314 |
44.020 |
17.87% |
21.111 |
8.57% |
$238,974 |
3.873% |
4.106% |
0.233% |
3.054% |
0.819% |
| March 29 |
211.502 |
128.085 |
83.416 |
39.44% |
9.835 |
4.65% |
166.854 |
44.648 |
21.11% |
16.476 |
7.79% |
$229,679 |
3.921% |
4.189% |
0.268% |
3.098% |
0.823% |
| March 22 |
252.144 |
145.109 |
107.035 |
42.45% |
10.968 |
4.35% |
203.984 |
48.160 |
19.10% |
20.323 |
8.06% |
$235,046 |
3.921% |
4.072% |
0.151% |
3.075% |
0.846% |
| March 15 |
164.610 |
99.655 |
64.955 |
39.46% |
8.445 |
5.13% |
129.038 |
35.572 |
21.61% |
17.251 |
10.48% |
$226,915 |
3.997% |
4.176% |
0.179% |
3.152% |
0.845% |
| March 8 |
219.482 |
123.810 |
95.672 |
43.59% |
9.921 |
4.52% |
177.956 |
41.526 |
18.92% |
21.795 |
9.93% |
$233,009 |
3.875% |
4.047% |
0.172% |
3.074% |
0.801% |
*Data provider changed to LoanSifter from Optimal Blue on April 12, 2013 |
Mortgage Market Index Archives 2013 weekly
Mortgage Market Index Archives 2012 weekly
Mortgage Market Index Archives 2011weekly
Mortgage Market Index Archives 2010 weekly
Mortgage Market Index Archives 2009 weekly
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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
A barometer of upcoming originations, the Mortgage Market Index includes data on jumbo, FHA and refinance activity. |
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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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