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. |
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Week Ended April 14, 2010 |
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National Average Loan Amount |
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$205,074 |
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Top 3 States |
state |
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$328,750 |
DC |
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$287,108 |
AK |
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$269,324 |
MA |
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Bottom 3 States |
state |
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$145,843 |
NE |
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$149,566 |
ND |
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$153,978 |
AR |
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National Average Rate-Term Refinance Amount |
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$220,573 |
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Top 3 States |
state |
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$364,934 |
DC |
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$333,298 |
ME |
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$326,044 |
AK |
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Bottom 3 States |
state |
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$145,467 |
NE |
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$147,356 |
WV |
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$154,241 |
MS |
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National Average Cashout Refinance Amount |
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$209,279 |
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Top 3 States |
state |
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$350,847 |
DC |
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$290,878 |
AZ |
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$269,355 |
CA |
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Bottom 3 States |
state |
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$60,000 |
ND |
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$121,420 |
OK |
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$121,875 |
MT |
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National Average Jumbo Loan Amount |
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$655,875 |
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Top 3 States |
state |
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$2,208,333 |
AL |
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$1,200,000 |
ME |
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$1,050,000 |
MS |
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Bottom 3 States |
state |
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$470,896 |
KY |
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$481,107 |
MI |
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$497,363 |
PA |
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National Rate-Term Refinacne Share |
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21.49% |
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National Cashout Refinance Share |
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12.21% |
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National Total Refinance Share |
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33.70% |
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HOT PRODUCTS |
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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 |
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Average rate for each product from All investors |
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round(avg(rate),3) |
Number of Queries |
Product |
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5.142% |
43703 |
Conv30 |
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4.400% |
13821 |
Conv15 |
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3.820% |
1564 |
5-1LiborARM |
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4.940% |
22865 |
FHA30 |
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4.340% |
4008 |
FHA15 |
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5.010% |
4913 |
VA30 |
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5.850% |
2072 |
Jumbo30 |
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Mortgage Market Index |
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224 |
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