twitter linkedin
facebook google+
Search:

Branch Opportunities

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


subscribe to free Mortgage Daily email newsletter


Mortgage Market Index
A barometer of upcoming originations, the Mortgage Market Index includes data on jumbo, FHA and refinance activity.
powered by
www.loansifter.com


PRESS RELEASE


Cashout, FHA Share Expand in Weekly Mortgage Market Index


DALLAS -- (Aug. 6, 2012) The share of prospective mortgage borrowers who were extracting home equity through a refinance transaction was stronger in the latest week, as was the case for government-insured activity. Overall business remains elevated from a month ago.

We saw a drop in the U.S. Mortgage Market Index from Mortech Inc. and Mortgage Daily this week, falling from 242 last week to 228.

Cashout
refinances saw a slight increase as did FHA loans, which could be an indicator that cash-strapped borrowers and those without savings for a conventional loan down payment have the confidence to re-enter the market. Some additional evidence for this may be found in this week's employment numbers, which provided a nice surprise.

Overall, though, the drop in the index was not enough to erode gains we saw earlier this year. Even down 6 percent week over week, the index is still higher now than it was in July. The index was at a high point for the year back in February, when it hit 267.

"I'm not concerned with this slight week over week drop in the index," said Mortech Inc. President Don Kracl. "I am, however, pleased to see increases in some parts of the business that have languished for some time."

Mr. Kracl added, "Interest in FHA loans ticked up this week, but it's still down from its June level, where these requests accounted for 13.20 percent of all borrower requests for loan information through the system. Many have argued that FHA is taking on too much market share, so the slight drop in demand may actually be welcome."

Full Mortgage Market Index Report


Week Ended Aug. 3, 2012


National Average Loan Amount $227,787


Rate-Term Refinance Share 60.979%
Cashout Refinance Share 13.710%
Total Refinance Share 74.689%


Purchase Share 25.311%


FHA Share 10.514%


ARM Share 2.837%


Jumbo Share 8.550%


Mortgage Market Index 227.787


Conforming 30-Year Fixed-Rate Average 3.627%
Conforming 15-Year Fixed-Rate Average 3.004%
Jumbo 30-Year Fixed-Rate Average 4.411%



Mortgage Market Index 228 for week ended Aug. 3


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


About Mortgage Daily
Founded in 1998 by 20-year mortgage industry veteran Sam Garcia, MortgageDaily.com is a leading online source of mortgage news and mortgage statistics for the mortgage industry. In addition to the weekly Mortgage Market Index, Mortgage Daily also publishes the quarterly Mortgage Employment Index, Mortgage Litigation Index and Mortgage Fraud Index. The Dallas-based publication additionally provides a quarterly ranking of the biggest mortgage originators and mortgage servicers. Visit Mortgage Daily at www.MortgageDaily.com.

About Mortech, Inc.
Founded in 1987, Mortech provides a number of technologies designed to make loan originators more efficient and increase application to closed-loan conversation rates significantly, including all-in-one pricing, rate notification, prospect management tools, custom rate sheets, secondary marketing tools, loan product eligibility and guideline services. MarksmanLMP, Mortech's flagship web-based software, automates the loan process and management of sales cycles - increasing loan close-ratios dramatically. Additional functionality includes an Intelligent Credit Reporting Engine, an Automated Underwriting System, connectivity to Fannie Mae's Desktop Underwriter or Freddie Mac's Loan Prospector, Bi-Directional Communication with Loan Origination Systems and a complete Document Management System. Mortech is a preferred technology partner for a number of online mortgage rate comparison websites and recently rolled out technology that will allow any website publisher to post sophisticated rate calculators on their pages. For more information, visit www.mortech-inc.com.


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.

www.pointserv.com


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?


Mortgage Market Index powered by
LoanSifter


Weekly MMI
by Year:

current

2014

2013

2012

2011

2010

2009



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 LoanSifter 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.



SUBSCRIBERS: Edit Subscription | Subscription Help | or call Holly at 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2014 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

servicing news

subprime news

wholesale lenders

wireless mortgage news