Home purchase financing activity drove overall new mortgage activity to the highest level in more than three months. Adjustable-rate activity soared by a quarter.
In the week that concluded on Nov. 11, the U.S. Mortgage Market Index from OpenClose and Mortgage Daily — an indicator of upcoming originations — was 182.
The last time that the index, which is based on average per-user rate locks by OpenClose clients, was this high was in the week ended Aug. 5, when it came in at 185.
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From:: Financing