It has been at least three years since the share of borrowers extracting home equity has been this broad, while the last time adjustable-rate mortgage share was this wide was during the final week of 2015.
In the seven-day period that concluded on Sept. 29, the U.S. Mortgage Market Index from Mortgage Daily, an indication of upcoming originations, was 133.
Compared to the preceding seven-day period, the index, which is determined based on average per-user rate-lock volume by clients of OpenClose, retreated 4 percent.
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From:: Financing