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Complete list of specialty news sections.
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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
Purchases Lead Weekly Mortgage Market Index Up
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DALLAS -- (Nov. 14, 2016) Home purchase financing activity drove overall new mortgage activity to the highest level in more than three months. Adjustable-rate activity soared by a quarter.
In the week that concluded on Nov. 11, the U.S. Mortgage Market Index from OpenClose and Mortgage Daily -- an indicator of upcoming originations -- was 182.
The last time that the index,
which is based on average per-user rate locks by OpenClose clients, was this high was in the week ended Aug. 5, when it came in at 185.
Compared to a week earlier, the MMI increased 13 percent, while it soared 64 percent from the same week last year.
A 26 percent increase from the week ended Nov. 4 was recorded for rate locks for adjustable-rate mortgages. ARM share widened to 8 percent from 7 percent.
Rate locks for purchase-money mortgages climbed 17 percent, leaving the Purchase MMI at 106.
A 14 percent week-over-week increase was recorded for the Government MMI. Government share widened to 35.2 percent from 35.0 percent in the last report.
Conventional business rose 13 percent from the last report.
Refinance rate locks were up 8 percent. Refinance share was trimmed to 42 percent from 44 percent.
This week's weakest category was the Jumbo MMI, which was unchanged from last week. Jumbo share was reduced to 8 percent from 9 percent.
Jumbo interest rates were 6 basis points more than conforming rates. The jumbo-conforming spread widened from 2 BPS a week earlier. |
full Nov. 11 report
historical data
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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.
CONTACT:
214.521.1300
NewsAlert@MortgageDaily.com
About OpenClose
Founded in 1999 and headquartered in Palm Beach, Florida, OpenClose® is a leading end-to-end loan origination system (LOS) provider that delivers its platform on a software-as-a-service (SaaS) basis. The company provides a variety of browser-based lending automation solutions for lenders, banks and credit unions of all sizes. OpenClose's LOS is completely engineered by the same company, thus avoiding assembling best-of-breed applications or acquiring technologies in an effort to create an end-to-end platform. The company focuses on providing lending organizations with full control of their data and creating a truly seamless workflow for comprehensive automation and compliance adherence. For more information, visit www.openclose.com or call 561.655.6418.
Source: MortgageDaily.com
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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.
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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.
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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.
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Jumbo Mortgage News
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Mortgage Market Index powered by
OpenClose
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Weekly MMI
by Year:
current
2017
2016
2015
2014
2013
2012
2011
2010
2009
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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 OpenClose 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.
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