Mortgage Jobs Hold as U.S. Data Point to Economic Recovery
An increase in the number of mortgage brokers was offset by a decline in non-broker mortgage jobs. However, the government revised the prior month's mortgage industry headcount up by more than 28,000 jobs. But the bigger news was an improvement in the U.S. employment situation last month. The latest data are a sign of an improving economy -- though it might also signal the end of record-low interest rates.

Record Low Rates Likely to Hold
Most mortgage rates fell to the lowest levels ever recorded, and it looks like they could hang near those lows through next week. The one exception is the one-year adjustable-rate mortgage.

COFI Bounces Up from All-Time Low
After falling for four consecutive months to the lowest level on record, the Cost of Funds Index reversed course.

FHA, Jumbo & Purchase Activity Drive Business Higher Led by an increase in inquiries for purchase financing, government-insured loans and jumbo mortgages -- overall mortgage activity was higher this week. Both jumbo and 15-year loans were priced more competitively in the latest report, and overall mortgage rates are poised to come in lower in the next report.

Low Rates Fail to Stimulate; Might Rise Mortgage rates, which were already perched at historical lows, fell further this week. But that wasn't enough to motivate mortgage shoppers to check in with their local loan originators about financing a home purchase or refinancing an existing loan. While a look at Treasury market activity suggests rates could be higher in next week's reports, eurozone volatility could impact that outlook.

BofA Suspends Cashouts
Refinance activity is so busy that Bank of American Home Loans has made the decision to turn off the spigot for cashout refinancing. It's the second time in four months that such a move has been made.

New Mortgage Business Leaps With the holidays out of the way, mortgage shoppers were out in droves this week inquiring about new mortgages. Rates are likely to be lower in next week's report, possibly leading the way for activity to escalate further.