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Mortech-MortgageDaily.com Mortgage Market Index
Last Updated Wednesday, September 01, 2010 05:21 PM Texas Time

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Mortgage Market Index News



Mortgage Market Index Tables by Month

Activity Eases as Fixed Rates Fall
More downward movement in mortgage rates -- which were already at record lows -- wasn't enough to lift the Mortech-Mortgage Daily Mortgage Market Index higher.

For the week ended Wednesday, the index was 348, easing from 355 last week. The index reflects the inquiries per user of Mortech Inc.'s pricing system.

The decline in activity came despite that the conventional 30-year rate edged down to 4.317 percent from 4.320 percent last week and the conventional 15-year moved 6 basis points lower to 3.79 percent.
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Mortech-MortgageDaily.com Mortgage Market Index for the Week Ended Sept. 1, 2010

4 Weeks of Rising Mortgage Activity
It was a small increase but an increase all the same. It was also the fourth consecutive week that the Mortech-MortgageDaily.com Mortgage Market Index was higher. Purchase activity was up and rates were down.

Mortech-MortgageDaily.com Mortgage Market Index for the Week Ended Aug. 25, 2010

3rd Straight Week of Increased Mortgage Activity
It was the third straight week that the Mortech-MortgageDaily.com Mortgage Market Index has improved. Rates continued lower, the refinance share rose and the jumbo spread was trimmed.

Mortech-MortgageDaily.com Mortgage Market Index for the Week Ended Aug. 18, 2010

Rates Drop, Mortgage Activity Higher
Mortgage rates headed lower this week, prompting an uptick in new activity.

Mortech-MortgageDaily.com Mortgage Market Index for the Week Ended Aug. 11, 2010

Activity Idles, Rates Fall & Jumbo Spread Improves
Another decline in mortgage rates didn't prompt an increase in mortgage activity. But an improvement was noted in the jumbo spread.

Mortech-MortgageDaily.com Mortgage Market Index for the Week Ended Aug. 4, 2010

2nd Weekly Decline for Mortgage Activity
New loan activity declined for the second consecutive week based on the Mortech-MortgageDaily.com Mortgage Market Index. The lower activity was accompanied by a falling share of refinances. Fixed rates were mostly unmoved, though the jumbo spread improved.

Mortech-MortgageDaily.com Mortgage Market Index for the Week Ended July 28, 2010

Rates Fall, Activity Eases
Falling mortgages rates weren't enough to push the Mortech-MortgageDaily.com Mortgage Market Index, higher. Meanwhile, the jumbo-conventional spread declined.

Mortech-MortgageDaily.com Mortgage Market Index for the Week Ended July 21, 2010

Mortgage Activity Jumps
The see-saw activity continued for the Mortech-MortgageDaily.com Mortgage Market Index, which jumped 17 percent this week after tumbling last week and soaring the week before.

Mortech-MortgageDaily.com Mortgage Market Index for the Week Ended July 14, 2010

Mortgage See Saw
As quickly as it rose last week, the Mortech-MortgageDaily.com Mortgage Market Index retreated in the report for the week ended July 7. Also lower was the share of activity represented by refinances. But fixed rates managed an improvement.

Mortech-MortgageDaily.com Mortgage Market Index for the Week Ended July 7, 2010

Mortgage Activity Soars
The Mortech-MortgageDaily.com Mortgage Market Index shot up nearly 30 percent in the report for the week ended June 30. It was highest level ever for the index.

Mortech-MortgageDaily.com Mortgage Market Index for the Week Ended June 30, 2010

September 2010 Sep. 1
Mortgage Market Index Value 348
Average U.S. Loan Amount $214,263
No. 1 State DC $321,119
No. 2 State MA $276,177
No. 3 State MD $270,778
Bottom State MS $155,351
Average Rate-Term Refi Loan Amount $227,670
Average Cashout Refi Loan Amount $211,830
Average U.S. Jumbo Loan Amount $642,035
U.S. Rate-Term Refinance Share 49.49%
U.S. Cashout Refinance Share 14.65%
U.S. Total Refinance Share 64.14%
30-year Conventional Rate 4.294%
15-year Conventional Rate 3.740%
30-year Jumbo Rate 5.200%


August 2010 Aug 25 Aug 18 Aug 11 Aug 4
Mortgage Market Index Value 355 350 325 313
Average U.S. Loan Amount $214,838 $215,694 $216,618 $216,033
No. 1 State DC $290,953 DC $289,201 DC $282,230 DC $286,888
No. 2 State VT $281,500 MA $275,051 DE $277,165 MA $276,325
No. 3 State MA $274,269 MD $264,916 MA $276,567 AK $265,627
Bottom State SD $151,741 SD $149,909 SD $147,209 SD $146,065
Average Rate-Term Refi Loan Amount $228,106 $229,023 $231,990 $231,335
Average Cashout Refi Loan Amount $212,800 $212,332 $211,339 $213,268
Average U.S. Jumbo Loan Amount $636,945 $641,411 $643,913 $631,968
U.S. Rate-Term Refinance Share 48.76% 49.31% 47.55% 45.07%
U.S. Cashout Refinance Share 15.15% 14.90% 14.44% 14.58%
U.S. Total Refinance Share 63.91% 64.21% 61.99% 59.65%
30-year Conventional Rate 4.317% 4.320% 4.355% 4.414%
15-year Conventional Rate 3.790% 3.850% 3.860% 3.890%
30-year Jumbo Rate 5.200% 5.200% 5.260% 5.320%

JULY 2010 July 28 July 21 July 14 July 7
Mortgage Market Index Value 310 333 334 286
Average U.S. Loan Amount $214,257 $216,013 $215,606 $217,645
No. 1 State DC $291,229 HI $285,418 HI $316,286 MA $282,087
No. 2 State HI $290,117 DC $279,212 DC $287,861 HI $278,907
No. 3 State MA $274,709 MA $274,845 MA $274,533 DC $276,858
Bottom State SD $135,825 SD $150,931 SD $155,562 SD $152,091
Average Rate-Term Refi Loan Amount $228,878 $228,506 $227,443 $231,763
Average Cashout Refi Loan Amount $212,790 $212,595 $217,006 $218,535
Average U.S. Jumbo Loan Amount $633,146 $647,279 $648,084 $656,192
U.S. Rate-Term Refinance Share 44.22% 46.19% 45.35% 45.52%
U.S. Cashout Refinance Share 14.55% 14.47% 15.86% 13.80%
U.S. Total Refinance Share 58.77% 60.66% 61.21% 59.32%
30-year Conventional Rate 4.485% 4.485% 4.555% 4.519%
15-year Conventional Rate 3.920% 3.910% 3.980% 3.960%
30-year Jumbo Rate 5.420% 5.470% 5.550% 5.500%

JUNE 2010 June 30 June 23 June 16 June 9 June 2
Mortgage Market Index Value 355 274 257 274 225
Average U.S. Loan Amount $222,272 $215,847 $211,982 $215,771 $212,806
No. 1 State DC $292,580 DC $306,728 DC $300,066 DC $318,812 DC $326,702
No. 2 State MA $285,049 MA $281,668 AK $281,099 HI $295,839 HI $293,137
No. 3 State AK $267,111 HI $261,417 MA $275,626 MA $280,413 AK $278,995
Bottom State WV $157,350 NE $155,125 ND $151,279 NE $156,741 WV $135,038
Average Rate-Term Refi Loan Amount $237,851 $233,114 $229,216 $234,597 $229,804
Average Cashout Refi Loan Amount $222,734 $217,045 $213,858 $214,480 $213,219
Average U.S. Jumbo Loan Amount $643,450 $635,963 $654,990 $675,344 $653,128
U.S. Rate-Term Refinance Share 46.78% 37.95% 35.380% 36.130% 34.55%
U.S. Cashout Refinance Share 14.23% 13.44% 13.660% 13.840% 13.01%
U.S. Total Refinance Share 61.01% 51.39% 49.040% 49.970% 47.56%
30-year Conventional Rate 4.546% 4.652% 4.763% 4.780% 4.836%
15-year Conventional Rate 3.970% 4.060% 4.140% 4.180% 4.220%
30-year Jumbo Rate 5.490% 5.590% 5.680% 5.670% 5.650%

MAY 2010 May 26 May 19 May 12 May 5
Mortgage Market Index Value 324 270 252 239
Average U.S. Loan Amount $220,893 $215,751 $214,339 $206,815
No. 1 State DC $314,057 DC $294,557 ND $334,427 AK $298,263
No. 2 State HI $303,786 MA $280,972 DC $318,570 ME $278,693
No. 3 State MA $283,115 NJ $263,250 MA $279,410 DC $273,013
Bottom State OH $162,653 NE $154,515 MS $149,256 AR $148,628
Average Rate-Term Refi Loan Amount $239,363 $236,857 $232,587 $224,814
Average Cashout Refi Loan Amount $221,549 $213,650 $221,321 $209,590
Average U.S. Jumbo Loan Amount $653,874 $660,238 $639,718 $656,850
U.S. Rate-Term Refinance Share 39.370% 32.030% 26.510% 20.920%
U.S. Cashout Refinance Share 12.910% 12.420% 12.710% 10.870%
U.S. Total Refinance Share 52.280% 44.450% 39.220% 31.790%
30-year Conventional Rate 4.747% 4.875% 4.980% 5.065%
15-year Conventional Rate 4.140% 4.210% 4.320% 4.370%
30-year Jumbo Rate 5.600% 5.670% 5.760% 5.780%

April 2010 April 28 April 21 April 14 April 7
Mortgage Market Index Value 242 228 224 226
Average U.S. Loan Amount $204,583 $204,431 $205,074 $203,241
No. 1 State DC $302,757 DC $301,116 DC $328,750 DC $333,506
No. 2 State MA $271,581 MA $275,533 AK $287,108 HI $302,732
No. 3 State HI $262,565 DE $259,709 MA $269,324 AK $292,589
Bottom State SD $147,013 WV $136,762 NE $145,843 NE $150,516
Average Rate-Term Refi Loan Amount $219,644 $220,436 $220,573 $218,158
Average Cashout Refi Loan Amount $208,289 $208,089 $209,279 $207,248
Average U.S. Jumbo Loan Amount $642,899 $658,615 $655,875 $669,433
U.S. Rate-Term Refinance Share 20.63% 21.26% 21.49% 21.07%
U.S. Cashout Refinance Share 10.73% 11.89% 12.21% 11.47%
U.S. Total Refinance Share 31.36% 33.15% 33.70% 32.54%
30-year Conventional Rate 5.109% 5.113% 5.142% 5.243%
15-year Conventional Rate 4.410% 4.350% 4.400% 4.470%
30-year Jumbo Rate 5.840% 5.790% 5.850% 5.980%

March 2010 for week ended: March 31 March 24 March 17 March 10 March 3
Mortgage Market Index Value 237 229 224 238 245
Average U.S. Loan Amount $206,249 $206,882 $206,364 $208,132 $209,038
No. 1 State DC $320,262 DC $341,786 AK $285,354 HI $289,626 DC $298,261
No. 2 State HI $299,221 HI $323,559 MA $265,660 MA $273,405 HI $294,380
No. 3 State AK 274,117$ MA $267,550 NJ $256,861 DC $270,944 MA $274,858
Bottom State ND $133,893 WV $142,035 WV $144,502 NE $148,487 ND $140,272
Average Rate-Term Refi Loan Amount $223,237 $224,032 $223,311 $226,484 $225,717
Average Cashout Refi Loan Amount $212,830 $217,499 $211,860 $213,055 $216,738
Average U.S. Jumbo Loan Amount $650,164 $645,304 $657,766 $647,120 $642,825
U.S. Rate-Term Refinance Share 23.99% 26.66% 28.70% 29.13% 30.28%
U.S. Cashout Refinance Share 13.21% 13.07% 13.35% 13.79% 14.34%
U.S. Total Refinance Share 37.20% 39.73% 42.05% 42.92% 44.62%
30-year Conventional Rate 4.875% 4.875% 4.875% 4.875% 4.875%
15-year Conventional Rate 4.250% 4.250% 4.250% 4.250% 4.250%
30-year Jumbo Rate 5.625% 5.625% 5.625% 5.750% 5.750%

February 2010 for week ended: Feb. 24 Feb. 17 Feb. 10 Feb. 3
Mortgage Market Index Value 238 217 245 224
Average U.S. Loan Amount $205,271 $207,754 $210,624 $207,116
No. 1 State DC $283,856 DC $299,465 DC $309,953 HI $311,557
No. 2 State AK $283,205 MA $274,789 HI $290,740 AK $299,458
No. 3 State HI $275,277 NJ $260,986 AK $275,756 DC $284,764
Bottom State WV $151,910 WV $144,974 WV $142,411 WV $132,993
Average Rate-Term Refi Loan Amount $219,794 $224,506 $226,570 $220,097
Average Cashout Refi Loan Amount $211,251 $213,046 $219,547 $214,582
Average U.S. Jumbo Loan Amount $640,311 $643,379 $637,678 $657,7001
U.S. Rate-Term Refinance Share 29.25% 30.52% 33.25% 32.39%
U.S. Cashout Refinance Share 14.31% 14.04% 15.10% 15.14%
U.S. Total Refinance Share 43.56% 44.56% 48.35% 47.53%
30-year Conventional Rate 4.875% 4.875% 4.875% 4.875%
15-year Conventional Rate 4.250% 4.250% 4.250% 4.250%
30-year Jumbo Rate 6.000% 6.000% 5.750% 6.000%

January 2010 for week ended: Jan. 27 Jan. 20 Jan. 13 Jan. 6
Mortgage Market Index Value 255 272 256 182
Average U.S. Loan Amount $207,792 $207,927 $207,109 $203,953
No. 1 State HI $318,252 DC $324,894 DC $287,837 DC $276,239
No. 2 State DC $316,394 MA $266,706 HI $271,777 MA $270,000
No. 3 State MA $269,264 DE $263,784 MA $268,657 AK $256,958
Bottom State ND $129,839 ND $136,751 ND $131,075 WV $126,832
Average Rate-Term Refi Loan Amount $222,872 $222,177 $221,632 $219,581
Average Cashout Refi Loan Amount $214,717 $212,069 $207,277 $206,257
Average U.S. Jumbo Loan Amount $659,791 $659,348 $676,182 $659,853
U.S. Rate-Term Refinance Share 33.94% 32.42% 31.99% 29.06%
U.S. Cashout Refinance Share 15.68% 15.99% 15.45% 14.20%
U.S. Total Refinance Share 49.62% 48.41% 47.44% 43.26%
Hottest Product MA Conv30 MA Conv30 MA Conv30 MA Conv30
30-year Conventional Rate 4.875% 4.875% 4.875% 5.250%
15-year Conventional Rate 4.250% 4.250% 4.250% 4.375%
30-year Jumbo Rate 6.000% 5.750% 6.000% 6.125%

December 2009 for week ended: Dec. 30 Dec. 23 Dec. 16
Mortgage Market Index Value 166 191 197
Average U.S. Loan Amount $202,746 $209,354 $207,385
No. 1 State HI $267,417 DC $290,603 DC $299,851
No. 2 State MA $264,662 HI $273,977 HI $288,958
No. 3 State DC $259,394 MA $271,210 MA $268,676
Bottom State NE $138,642 NE $143,587 NE $142,657
Average Rate-Term Refi Loan Amount $217,797 $227,235 $223,329
Average Cashout Refi Loan Amount $201,602 $213,189 $210,678
Average U.S. Jumbo Loan Amount $650,342 $654,668 $999,521
U.S. Rate-Term Refinance Share 26.87% 35.20% 36.53%
U.S. Cashout Refinance Share 12.27% 14.65% 15.42%
U.S. Total Refinance Share 39.14% 49.85% 51.95%
Hottest Product MA Conv 30 MA Conv 30 MA Conv 30
30-year Conventional Rate 5.250% 4.875% 4.875%
15-year Conventional Rate 4.375% 4.250% 4.250%
30-year Jumbo Rate 6.125% 6.000% 6.000%

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Stories about refinancing programs, pricing and production.

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Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.

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Weekly report from Mortgage Inc. and MortgageDaily.com on loan activity and trends.

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About the Mortgage Market Index
The M o r t e c h-MortgageDaily.com Mortgage Market Index launched on Dec. 17, 2009.

The index itself reflects the average number of pricing inquiries pulled each week per Mortech Inc. user. Users -- loan originators and mortgage brokers -- pull the inquiries to find the wholesale mortgage lender with the lowest rate. The index is based on hundreds-of-thousands of monthly inquiries and is a good reflection of upcoming applications and 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 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 to 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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