Although long-term interest rates for residential loans turned slightly higher, new mortgage business soared to the highest level in 15 months. Jumbo activity had the biggest gain.
Mortgage Daily’s U.S. Mortgage Market Index, a reflection of average per-user rate-lock volume at clients of OpenClose, was reported at 209 for the week ended July 15.
New mortgage activity — which turned out to be the strongest it’s been since the week ended March 20, 2015 — increased by more than a quarter versus the previous week.
…read more
From:: Financing