|
|
|
|
|
|
Complete list of specialty news sections.
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.
Reach mortgage executives, loan originators and other people tied to mortgage industry.
Free mortgage news for prospective borrowers.
Free e-mail newsletter with the latest headlines from MortgageDaily.com.
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.
Archive of MortgageDaily.com stories by month going back to 1999.
Reports and announcements from MortgageDaily.com.
Data and statistics for real estate finance.
Directories of lenders, branch operators and mortgage service providers.
Directories of lenders, branch operators and mortgage service providers.
|
|
|
|
|
Mortgage Market Index
A barometer of upcoming originations, the Mortgage Market Index includes data on jumbo, FHA and refinance activity. |
 |
|
PRESS RELEASE
Weekly Mortgage Market Index Rises
|
|
|
DALLAS -- (Dec. 12, 2016) New mortgage activity increased for the second consecutive week likely due to anticipation of a rate hike next week by the Federal Reserve.
In the seven-day period that concluded on Dec. 9, the U.S. Mortgage Market Index from Mortgage Daily and OpenClose came in at 157.
The index, an indication of upcoming originations based on average per-user rate locks by OpenClose clients, climbed 22 percent from a week prior.
It was the second week in a row that business improved.
Compared to the same week last year, a 23 percent gain has been recorded for the index.
Rate locks for refinances leapt 43 percent from the week ended Dec. 2, 2016, leaving the Refinance MMI at 69. The week-over-week jump is odd given how rates have been consistently increasing as of late.
OpenClose Senior Vice President Vincent E. Furey III speculated about the refinance surge in a written statement.
"We saw a 13 percent decline in week over week new application activity but a surge in lock activity likely to preserve fundable pipeline and expectation of a Fed rate hike on Wednesday," Furey said.
Refinance share was 43.9 percent in the most-recent week. The share widened from 37.4 percent a week earlier.
Jumbo business climbed 31 percent from the last report. Jumbo share widened to 5 percent from 4 percent. The jumbo-conforming spread thinned to a negative 7 basis points from a negative 13 BPS last week.
The Government MMI was 62, up 26 from a week earlier. Government share widened to 40 percent from 38 percent.
A 19 percent week-over-week increase was recorded for conventional business, leaving the Conventional MMI at 95.
Rate locks for purchase financing increased 9 percent, with the Purchase MMI landing at 88.
The only category to experience weakening was the ARM MMI, with rate locks for adjustable-rate mortgages falling 15 percent.
ARM share thinned to 8 percent from 12 percent a week earlier. |
full Dec. 9 report
historical data
|
| |
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
|
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.
|
|
|
Jumbo Mortgage News
|
|
|
|
|
|
|
Mortgage Market Index powered by
OpenClose
|
Weekly MMI
by Year:
current
2017
2016
2015
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 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.
|
|
|
|
