New residential loan activity ascended to the highest level that it has been in seven weeks, and it was conventional refinance business that drove the week-over-week gain.
At 178, the U.S. Mortgage Market Index from OpenClose and Mortgage Daily for the week ended Sept. 30 was greater than it’s been since the week ended Aug. 12.
The index, which provides insight into prospective mortgage production based on average per-user rate locks by OpenClose clients, rose 6 percent from the previous week.
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From:: Financing