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

Refinance Activity Accelerates

Mortgage Market Index 170 in week ended April 1

April 1, 2016

By Mortgage Daily staff



A bump in refinance activity and a jump in jumbo mortgage business pushed up overall new home lending activity during the latest seven-day period.

The U.S. Mortgage Market Index from OpenClose and Mortgage Daily came in at 170 for the week ended April 1, increasing 4 percent from the prior week.

The index, which is not seasonally adjusted, reflects average per-user rate locks by OpenClose clients for the seven days through Thursday at midnight.

Compared to the same week last year, the index has retreated 8 percent. The year-earlier figures were revised to reflect statistics from the same data provider.

Jumbo rate locks had the biggest bounce from the the previous report: 14 percent. Jumbo business, however, slowed by more than half from the week ended April 3, 2015. In the latest report, jumbo rate locks accounted for 5.5 percent of all activity. Jumbo share widened from 5.0 percent in the last report and was slashed from 10.8 percent in the year-earlier report.

Interest rates on jumbo mortgages were 5 basis points less than conforming rates. A week earlier, jumbo and conforming rates were the same, while jumbo rates were 7 BPS more than conforming rates a year ago.

Rate locks for refinances rose 8 percent from the week ended March 25 and were up nearly that amount from the same week in 2015. Refinance share widened to 71.5 percent from 68.9 percent a week earlier and 61.1 percent a year earlier. The most-recent share was comprised of a 45.1 percent rate-term share and a 26.3 percent cashout share.

Conventional business improved by nearly 7 percent from the last report but slid 15 percent from the same week last year.

Rate locks for purchase financing increased almost 2 percent from the previous report and were up over 5 percent from the year-previous report.

At 42, the FHA MMI was down 3 percent from one week earlier but 23 percent better than one year earlier. FHA share fell to 24.7 percent from 26.4 percent but was fatter than 18.5 percent a year ago.

A more than 3 percent week-over-week decline was recorded for adjustable-rate mortgage business, while the category was down nearly 15 percent on a year-over-year basis. ARM share was trimmed to 8.0 percent from 8.6 percent the prior week and a year prior.

Thirty-year conforming fixed rates averaged 3.71 percent in the latest report, the same as the last report but 38 BPS better than the year-earlier report.

Fifteen-year rates were 73 BPS lower than 30-year rates. The spread thinned from 75 BPS seven days previous and 87 BPS a year previous.

Fixed mortgage rates are poised to come in approximately 5 BPS lower in next week's MMI report based on a Mortgage Daily analysis of Treasury market activity.

next story

back to current headlines



Full Mortgage Market Index Report


Week Ended April 1, 2016


Average Loan Amount $251,798


Rate-Term Refinance Share 45.13%
Cashout Refinance Share 26.35%
Total Refinance Share 71.47%


Purchase Share 28.53%


FHA Share 24.71%


ARM Share 7.96%


Jumbo Share 5.48%


Mortgage Market Index 170.120


Conforming 30-Year Fixed-Rate Average 3.71%
Conforming 15-Year Fixed-Rate Average 2.98%
Jumbo 30-Year Fixed-Rate Average 3.66%



Mortgage Market Index 170 in week ended April 1


back to main Mortgage Market Index page


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

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

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

secondary marketing

social media

servicing news

subprime news

wholesale lenders