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Business Up as Jumbo Spread Widens

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Business Up as Jumbo Spread Widens
The spread between conforming and jumbo mortgages took a turn for the worse this past week. Still, mortgage activity managed to eke out a gain.




Week Ended April 14, 2010




National Average Loan Amount
$205,074




Top 3 States state
$328,750 DC
$287,108 AK
$269,324 MA




Bottom 3 States state
$145,843 NE
$149,566 ND
$153,978 AR




National Average Rate-Term Refinance Amount
$220,573




Top 3 States state
$364,934 DC
$333,298 ME
$326,044 AK




Bottom 3 States state
$145,467 NE
$147,356 WV
$154,241 MS




National Average Cashout Refinance Amount
$209,279




Top 3 States state
$350,847 DC
$290,878 AZ
$269,355 CA




Bottom 3 States state
$60,000 ND
$121,420 OK
$121,875 MT




National Average Jumbo Loan Amount
$655,875




Top 3 States state
$2,208,333 AL
$1,200,000 ME
$1,050,000 MS




Bottom 3 States state
$470,896 KY
$481,107 MI
$497,363 PA




National Rate-Term Refinacne Share
21.49%




National Cashout Refinance Share
12.21%




National Total Refinance Share
33.70%




HOT PRODUCTS
Product state State Average Number of Queries
Conv30 MA $291,091 5211
Conv30 MO $184,258 3763
Conv30 CA $274,698 2704
Conv30 TX $205,229 2654
Conv30 NJ $285,064 2501
Conv30 IL $226,058 2454
FHA30 TX $154,457 2009
Conv30 KS $201,243 1907
FHA30 MO $143,191 1730
FHA30 MA $293,048 1468
Conv30 AR $172,470 1393
Conv30 NY $246,100 1358
FHA30 CA $254,835 1350
Conv30 NE $162,703 1341
FHA30 KS $148,606 1279




Average rate for each product from All investors
round(avg(rate),3) Number of Queries Product
5.142% 43703 Conv30
4.400% 13821 Conv15
3.820% 1564 5-1LiborARM
4.940% 22865 FHA30
4.340% 4008 FHA15
5.010% 4913 VA30
5.850% 2072 Jumbo30




Mortgage Market Index
224




 

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