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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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PRESS RELEASE


Weekly Mortgage Activity Surges


DALLAS & LINCOLN, Neb.--(BUSINESS WIRE)--New mortgage activity shot up 20 percent in the Mortech-MortgageDaily.com Mortgage Market Index for the week ended June 2.

The index came in at 324 on Wednesday, jumping from 270 the prior week. A month earlier, the index stood at just 228.

The Mortgage Market Index reflects the average number of pricing inquiries pulled each week per Mortech Inc. user. Users -- loan originators and mortgage bankers-- pull the inquiries to find the mortgage lender with the lowest rate from Marksman, Mortech's product and pricing engine and lead management solution. The index is based on hundreds-of-thousands of monthly inquiries and is a good reflection of upcoming applications and production.

When the index was launched on the week ended Dec. 16, 2009, it stood at only 197.

"We've seen the index rise for eight consecutive weeks now," Mortech Inc. President Don Kracl said. "While much of the activity is tied to refinances, mortgages for home purchases also rose this past week."

Mr. Kracl continued, "Impacting the index are low mortgage rates, with the 30-year fixed-rate mortgage falling below 5 percent last month."

The Mortgage Market Index report also indicated that the spread between the average 30-year conventional mortgage and 30-year jumbo mortgage narrowed to 81 basis points this week from last week's 85 BPS -- indicating improving conditions for jumbo financing.

Another statistic, the average U.S. mortgage loan amount, fell to $212,806 from $220,893 in the Mortgage Market Index for the week ended May 26.


The complete Mortgage Market Index is available at:
http://www.mortgagedaily.com/MortgageMarketIndex.asp?spcode=pr


About MortgageDaily.com
Founded in 1998, MortgageDaily.com provides online mortgage news and analysis for the mortgage industry.
Around 1 million news pages are viewed monthly at MortgageDaily.com.


About Mortech Inc.
Mortech supplies all-in-one pricing, rate notification, prospect management tools, custom rate sheets, loan product eligibility and guidelines services to thousands of mortgage professionals. Marksman, Mortech's flagship web-based software, provides lenders with tools designed to automate the loan process and manage sales cycles - increasing loan close-ratios dramatically.

Product and pricing information from all major investors is maintained by industry experts in real-time resulting in the most full-featured and affordable PPE and CRM solution available.


Contacts:
Renee Harvey, 402.707.9775
renee@mortech-inc.com

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