Heading into Labor Day, new home-lending business turned mildly lower. That wasn’t the case, however, for adjustable-rate mortgage activity.
In the seven-day period that concluded on Friday, the U.S. Mortgage Market Index from Mortgage Daily, — a barometer of upcoming originations — was 154.
Compared to one week earlier, the index — which is based on rate-lock volume at OpenClose — retreated 4 percent. No seasonal adjustments are made to the index.
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From:: Financing