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U.S. Mortgage Market Index

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Last Updated October 22, 2018 2:20 PM Central

MMI News

3-Month Activity


Refinances Wipe Out Weekly Purchase Gains
A nice up tick in purchase financing activity was wiped out by a weekly decrease in refinance business. Similarly, an increase in government volume was more than offset by a drop in conventional activity.

Conventional drop offsets rise in government
Purchases Lead Mortgage Biz Lower in Holiday Week
Weekly mortgage business slowed during the holiday week and was also down from last year. Home purchase financing business took the biggest weekly hit, while refinances suffered least.

Mild dip for refinances
Mortgage Biz Surges as Gov Activity at 4-Mth High
New mortgage business surged this past week as a four-month high was reached for government activity. Cashout share was the most narrow it's been in a year, while rate-term share was it's widest in seven months.

Cashout share thinnest in year, rate-term share widest in 7 months
Robust VA Share Lifts Government Mortgage Share
Government share was the most broad it's been in five months thanks to the widest veterans share in at least two years. Although rate-term share was the widest it's been in six months, it was still refinances that led an overall week-over-week decline.

Refis lead drop in overall business
Weekly Mortgage Business Up as VA Activity Soars
An improvement in weekly mortgage business was driven by a surge in prospective loans to veterans. Despite deterioration of 3 basis points in fixed rates, the share of people seeking a rate-term refinance grew to the widest level in six months.

Rate-term refi share at 6-month high although rates up 3 BPS

Refinances Wipe Out Weekly Purchase Gains

Week Ended MMI Purchase MMI Refi MMI Refi Share ARM MMI ARM Share Conv MMI Gov MMI Gov Share Jumbo MMI Jumbo Share Average Loan Amount Jumbo-Conforming Spread
Oct 19 113.011 73.179 39.832 35.25% 18.492 16.36% 65.249 47.762 42.26% 9.902 8.76% $230,848 0.03%
Oct. 12 114.624 71.365 43.259 37.74% 22.115 19.29% 69.029 45.594 39.78% 10.315 9.00% $228,253 -0.03%
Oct 5 130.538 85.268 45.270 34.68% 23.202 17.77% 77.504 53.033 40.63% 11.140 8.53% $242,043 0.20%
Sep 28 109.247 71.051 38.196 34.96% 20.370 18.65% 62.419 46.829 42.86% 10.212 9.35% $242,782 0.16%
Sep 21 125.806 79.046 46.761 37.17% 23.259 18.49% 73.051 52.756 41.93% 10.727 8.53% $233,496 0.16%
Sep 14 120.860 80.074 40.786 33.75% 27.212 22.52% 73.698 47.162 39.02% 10.109 8.36% $233,474 0.15%
Sep 7 100.323 66.180 34.142 34.03% 16.570 16.52% 60.723 39.599 39.47% 9.696 9.66% $216,930 0.09%
Aug 31 108.495 65.515 42.980 39.61% 19.074 17.58% 66.800 41.695 38.43% 10.109 9.32% $230,987 0.11%
Aug 24 111.290 74.516 36.774 33.04% 19.591 17.60% 68.765 42.525 38.21% 10.109 9.08% $237,584 0.12%
Aug 17 113.548 74.731 38.817 34.19% 22.736 20.02% 70.026 43.522 38.33% 10.005 8.81% $232,106 0.10%
Aug 10 118.172 79.802 38.280 32.39% 19.108 16.17% 72.957 45.187 38.24% 10.005 8.47% $234,115 0.13%
Aug 03 112.473 77.204 35.269 31.36% 19.591 17.42% 72.957 39.516 35.13% 9.490 8.44% $224,667 0.15%
Jul 27 118.387 81.290 37.097 31.34% 22.252 18.80% 75.906 42.481 35.88% 10.624 8.97% $224,290 0.18%
Jul 20 132.581 85.269 47.312 35.69% 20.075 15.14% 81.114 51.467 38.82% 9.593 7.24% $217,807 0.11%

Mortgage Market Index Archives 2018 weekly

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Mortgage Market Index Archives 2016 weekly

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Mortgage Market Index Archives 2014 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.

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
Origination, issuance and performance data and news for large-balance mortgages.

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.

Mortgage Market Index
A barometer of upcoming originations, the Mortgage Market Index includes data on jumbo, FHA and refinance activity.

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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.

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