twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to 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

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

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









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

Purchases Lead Mortgage Biz Lower in Holiday Week

Mild dip for refinances

Oct. 15, 2018

By Mortgage Daily staff

Weekly mortgage business slowed during the holiday week and was also down from last year. Home purchase financing business took the biggest weekly hit, while refinances suffered least.

At 115, Mortgage Daily's U.S. Mortgage Market Index for the week that finished on Oct. 12 retreated twelve percent from seven days prior. No adjustments were made for Columbus Day.

A more telling comparison, one with the same week last year, indicated that the index -- a measure of average per-user rate locks by OpenClose customers -- had a 10 percent decline.

Rate locks for loans used to finance house purchases plunged from the week ended Oct. 5 by 16 percent -- the greatest week-over-week decline of any category. Purchase-money activity was off 7 percent from the same week a year ago.

Government activity dropped 14 percent from both a week earlier and a year earlier. Government share was 39.8 percent and consisted of a 26.9 percent FHA share and a 12.9 percent VA share. Government share thinned from 40.6 percent the preceding week and 41.4 percent in the week ended Oct. 13, 2017.

Conventional rate locks moved lower by 11 percent and retreated 8 percent on a year-over-year basis.

A 7 percent decrease was recorded for jumbo rate locks, though the category has risen 4 percent from the same seven days in 2017. Nine percent of all business was jumbo. The share thickened from 8.5 percent the prior week and 7.7 percent a year prior. The widening jumbo share came as jumbo rates fell to 3 basis points less than conforming rates reported by Freddie Mac on Thursday. Jumbo rates were 20 BPS worse than conforming rates in the last report and 12 BPS more in the year-earlier report.

Rate locks for adjustable-rate mortgages eased 5 percent but have soared 72 percent from one year ago. ARM share widened to 19.3 percent from 17.8 percent and has ballooned from a 10th a year previous.

The smallest drop was with refinances, which dipped 4 percent. Refinance business sank 16 percent versus the prior-year report -- the worst year-over-year drop. Refinances accounted for 37.7 percent of weekly business, a wider share than 34.7 percent the same week in 2017 but a more narrow share than 40.1 percent twelve months earlier. Refinance share was comprised of a 13.0 percent rate-term share and a 24.7 percent cashout share.

next story

back to current headlines

Full Mortgage Market Index Report

Week Ended Oct. 12, 2018

Mortgage Market Index


Average Loan Amount

Rate-Term Refinance Share 13.02%
Cashout Refinance Share 24.72%
Total Refinance Share 37.74%

Purchase Share 62.26%

FHA Share 26.86%
VA Share 12.92%
Total Government Share 39.78%

Conventional Share 60.22%

ARM Share 19.29%

Jumbo Share 9.00%

Jumbo-Conforming Spread -0.03%

Purchases Lead Mortgage Biz Lower in Holiday Week

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
Origination, issuance and performance data and news for large-balance mortgages.

Logout forgot

Mortgage Market Index powered by

Weekly MMI
by Year:












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


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