twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to 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

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

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









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


Mortgage Market Index Falls as Jumbo Leads Holiday Decline

DALLAS -- (Dec. 26, 2012) As the mortgage industry prepared to celebrate the holidays, new business declined. Jumbo activity took the biggest hit, though refinances weren't far behind. Mortgage rates, meanwhile, moved higher.

The U.S. Mortgage Market Index from Optimal Blue and Mortgage Daily for the week ended Dec. 21 was 169. The index, which reflects the average number of rate locks per Optimal Blue user, descended from the previous week, when it came in at 192.

Compared to a year earlier, when the index was calculated based on pricing inquiries from another data source, business was down 12 percent.

Leading the latest decline were jumbo locks, which tumbled 21 percent from the week ended Dec. 14. Jumbo share fell to 7.9 percent from 8.8 percent.

Jumbo borrowers paid a 34-basis-point premium over conforming borrowers, improving from a jumbo-conforming spread of 38 BPS in the previous report.

Refinances took a 15 percent hit compared to the previous week and were down a third from the week ended Dec. 23, 2011 -- though the year-earlier comparison is distorted because of the change in the data source. Refinance share diminished, falling to 52 percent from 54 percent a week earlier and 68 percent from a year earlier using the old data. Reflected in the most recent share was a 41 percent cashout share and an 11 percent cashout share.

Originators locked 14 percent fewer adjustable-rate mortgages than they did in the prior week. ARM activity was off 40 percent from the same week last year.

ARMs accounted for 3.5 percent of rate locks, slipping from 3.6 percent in the previous report.

Conventional business fell 13 percent for the week and was off 21 percent over the prior 12 months.

Next were purchase rate locks, which fell 8 percent for the week. While purchase activity was up nearly a third from a year earlier using data from the prior source, the increase is more reflective of using rate locks versus pricing inquires as the base metric than an actual year-over-year increase in purchase business.

Rate locks on mortgages insured by the Federal Housing Administration were 5 percent lower than the prior week, making FHA the best-performing category in the current report. FHA activity has increased 56 percent over the past year.

FHA share was 19 percent, up from 18 percent the previous week and 11 percent in the same week during the previous year.

Full Mortgage Market Index Report

Week Ended Dec. 21, 2012

National Average Loan Amount $229,957

Rate-Term Refinance Share 40.65%
Cashout Refinance Share 11.17%
Total Refinance Share 51.82%

Purchase Share 48.18%

FHA Share 19.41%

ARM Share 3.53%

Jumbo Share 7.92%

Mortgage Market Index 169.222

Conforming 30-Year Fixed-Rate Average 3.683%
Conforming 15-Year Fixed-Rate Average 2.960%
Jumbo 30-Year Fixed-Rate Average 4.024%

Mortgage Market Index 169for week ended Dec. 21

Historical data for the U.S. Mortgage Market Index is available at:

About Mortgage Daily
Founded in 1998 by 20-year mortgage industry veteran Sam Garcia, 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

About Optimal Blue
Founded in 2002, Optimal Blue is a Web-based provider of managed-content, product eligibility and pricing engine (PPE) technology. Based in Plano, Texas, Optimal Blue has developed a comprehensive suite of products designed to give lenders the ability to automate the management and distribution of their products, pricing and secondary marketing activities, enabling originators to then source, manage, price, lock and sell loans in a way that is efficient, accurate and easy to use. Without having to be technology experts, Optimal Blue's solutions allow clients to leverage superior technology and content for a competitive advantage. For more information, please visit

Holly Himelright


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

Public Relations News | PR Agencies | Mortgage Daily Press Releases
Announcements about mortgage industry public relations firms. Stories about building your brand and increasing your exposure.

Logout forgot

Mortgage Market Index powered by

Weekly MMI
by Year:












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.

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


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