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


Weekly Mortgage Market Index Up on Purchases

Weekly ARM business strengthens

DALLAS -- (Feb. 19, 2018) New purchase-money lending activity accelerated this past week, lifting overall business despite that refinances slowed to the lowest level since last year. Adjustable-rate prospects grew.

In the week ended Feb. 16, Mortgage Daily's U.S. Mortgage Market Index was elevated by 5 percent compared to last week. It the highest level since the week ended Dec. 8, 2017.

The index, which isn't adjusted for seasonal factors, helps in the forecasting of mortgage originations based on average per-user rate locks by clients of OpenClose.

Compared to the same seven-day period last year, volume increased by more than a fifth.

In next week's report, the index is likely to be much lower because of Presidents Day.

Showing the largest gain from the week ended Feb. 9 was the Purchase MMI, which leapt by 19 percent.

Next were rate locks for adjustable-rate mortgages, which climbed 16 percent from the preceding week. At 17.4 percent, ARM share was much wider than 15.7 percent a week earlier.

The Government MMI rose 5 percent. Government share was 40.8 percent versus 40.5 percent in the last report.

Conventional mortgage rate locks were up 4 percent.

Jumbo rate-lock volume was the same as a week ago. At 6.7 percent, jumbo share thinned from 7.0 percent. At 21 basis points less than conforming rates reported by Freddie Mac, the jumbo-conforming spread was the same as last week.

The only category to experience a week-over-week decline was refinances: 10 percent. The 42 percent refinance share was the most narrow it's been since the week ended Dec. 29, 2017. The share was far more thin than 49 in the previous report. The week's rate-term share was 11.4 percent -- the thinnest it's been since the week ended May 26, 2017.

full Feb. 16 report

historical data


Weekly ARM business strengthens

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 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 or call 561.655.6418.


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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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