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 Tumbles During Holidays

DALLAS -- (Dec. 31, 2012) With the holiday season in full swing, loan originators did very little business last week. Leading a big weekly decline were jumbo and adjustable-rate mortgages.

A 48 percent drop from the prior week left the U.S. Mortgage Market Index from Optimal Blue and Mortgage Daily for the week ended Friday at just 88. Activity reflects the average volume of rate locks registered by originator clients of Optimal Blue.

It was the lowest level of activity since the week ended Jan. 6, when the index was a revised 84. During the same week last year, the index was 131 -- though the year-earlier data was based on pricing inquiries rather than rate locks.

The latest week's biggest decline was with rate locks for ARMs, which sank 63 percent from the week ended Dec. 21. ARM activity was down 69 percent from the same week last year. ARM share was cut to 2.5 percent from 3.5 percent the prior week and 5.1 percent during the same week in the prior year.

The second-worst performing category was jumbo, with activity falling 62 percent from a week earlier. At the same time, jumbo share of overall business fell to 5.8 percent from 7.9 percent seven days earlier. The slimmer share came despite a decrease in the premium for jumbo mortgages to 31 basis points from the 34-basis-point jumbo-conforming spread in the prior report.

Next were rate locks for mortgages insured by the Federal Housing Administration, which were down by more than half for the week. FHA business, however, grew 6 percent from the week ended Dec. 30, 2011, based on using pricing inquiries for the year-earlier period. FHA share slipped to 18.1 percent from the previous week's 19.4 percent.

Refinance rate locks followed, tumbling 49 percent from the previous week and a year earlier. Refinance share fell to 51 percent from 52 percent in the last report. The most recent week's share was comprised of a 40 percent rate-term share and a 10 percent cashout share.

Conventional business was off 47.4 percent from the prior week and 38.1 percent lower than the same week last year.

The least-bad performing category was purchase financing, with locks falling 47.2 percent from the last report. Purchase activity, however, was off just 2.2 percent from a year earlier.

The average 30-year fixed-rate mortgage improved to 3.666 percent from 3.683 percent in the last Mortgage Market Index report. One year previous, the 30 year averaged 4.089 percent.

The discount for a 15-year mortgage was just under 72 BPS, slipping from just over 72 BPS a week prior.

Full Mortgage Market Index Report


Week Ended Dec. 28, 2012


National Average Loan Amount $226,365


Rate-Term Refinance Share 40.48%
Cashout Refinance Share 10.39%
Total Refinance Share 50.87%


Purchase Share 49.13%


FHA Share 18.08%


ARM Share 2.49%


Jumbo Share 5.77%


Mortgage Market Index 87.610


Conforming 30-Year Fixed-Rate Average 3.666%
Conforming 15-Year Fixed-Rate Average 2.950%
Jumbo 30-Year Fixed-Rate Average 3.980%




Mortgage Market Index 88 for week ended Dec. 28


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 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 www.optimalblue.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.


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
password?


Mortgage Market Index powered by
OpenClose



Weekly MMI
by Year:

current

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009



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

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