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


PRESS RELEASE


Weekly Mortgage Market Index Lower


DALLAS -- (June 18, 2012) A week after surging by more than a third, new mortgage business dropped. Declining activity was most impacted by inquiries for adjustable-rate mortgages, jumbo loans and refinance transactions.

The average loan originator pulled 14 percent fewer pricing inquiries than the prior week, dragging the U.S. Mortgage Market Index from Mortech Inc. and Mortgage Daily for the week ended June 15 down to 229. Compared to the same week in 2011, the index drifted 2 percent lower.

ARM business had the biggest impact on week-over-week activity, tumbling 27 percent from the week ended Jun 8. ARM inquiries were down more than two thirds from a year earlier. ARM share, meanwhile, fell for the sixth consecutive week to 3.3 percent. A year previous, ARM share exceeded 10 percent.

Inquiries for jumbo mortgages were down by 20 percent from the previous report, and jumbo share fell to 8.2 percent from 8.9 percent. The premium for a jumbo loan has increased each of the past three weeks to 70 basis points this week from 65 BPS seven days prior.

Compared to the previous week, pricing inquiries for refinances fell 17 percent but were up a third from the week ended June 17, 2011. Refinance share slipped to 72 percent from 74 percent but was up from 53 percent the same week in 2011. The latest share consisted of a 59 percent rate-term share and a 13 percent cashout share.

Also down 17 percent from the prior report were conventional loan pricing inquiries. Conventional activity was off 3 percent from the same point a year ago.

Inquiries for mortgages insured by the Federal Housing Administration were off 9 percent for the week but 7 percent higher than the same point last year. FHA share climbed, however, to 13 percent from 10 percent in the previous report and 12 percent during the same week in 2011.

The best-performing category was purchase financing. Purchase inquiries were off just 7 percent for the week, though purchase business has fallen 41 percent over the past year.

Slower overall activity came as the average conforming 30-year rate rose to 3.84 percent from 3.80 percent. But the 30 year remains 84 BPS below the same point during 2011.

Fifteen-year mortgages were priced at a 66-basis-point discount over 30-year loans, not quite as good as 67 BPS in the previous report and much worse than 82-basis-point spread a year prior.

Full Mortgage Market Index Report


Week Ended June 15, 2012


National Average Loan Amount $222,075


Rate-Term Refinance Share 58.579%
Cashout Refinance Share 12.978%
Total Refinance Share 71.557%


Purchase Share 28.442%


FHA Share 13.087%


ARM Share 3.278%


Jumbo Share 8.209%


Mortgage Market Index 229.105


Conforming 30-Year Fixed-Rate Average 3.838%
Conforming 15-Year Fixed-Rate Average 3.175%
Jumbo 30-Year Fixed-Rate Average 4.534%



Mortgage Market Index 229 for the week ended June 15


Historical data for the U.S. Mortgage Market Index is available at:
http://www.MortgageDaily.com/MortgageMarketIndex.asp


About MortgageDaily.com
Founded in 1998, MortgageDaily.com is a leading online source of mortgage news and mortgage statistics for the mortgage industry.



CONTACT:
Holly Himelright
214.521.1300
NewsAlert@MortgageDaily.com


Source: MortgageDaily.com



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.


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.



Jumbo Mortgage News

Logout forgot
password?

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

free mortgage 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

sales blog

secondary marketing

social media

servicing news

subprime news

wholesale lenders

wireless mortgage news