A change was made to the way the Mortech-Mortgage Daily Mortgage Market Index is reported. In addition, the share of adjustable-rate mortgages has been added to the weekly report.
As of Feb. 11, the index was calculated for the seven days ended Friday. It came in at 203.
Before this point, the index was reported for the seven days ended each Wednesday. The Mortgage Market Index was 201 on Wednesday.
By moving the week’s end to Friday, the index will more accurately reflect a given week’s activity.
Friday’s report reflected the first time that ARM share was included. The inaugural ARM share was 9.5 percent, while the first ARM MMIÂ reported was 19.
The Purchase MMI came in at 111, and the Refi MMI was 92. Refinance share edged down to 45 percent as of Friday versus 46 percent as of Wednesday.
The weekly table for 2011 has been enhanced to reflect the spread between the conventional 15-year fixed-rate mortgage and the 30-year. For the seven days ended Friday, that spread was 76 basis points, the same as two days earlier.
The spread between the conforming 30-year and the jumbo 30-year was unchanged from Wednesday at 66 BPS.
