Purchase, Conv Pull Down Weekly Mortgage Activity

A week-over-week decline in new home-lending activity was driven by purchase and conventional financing, though jumbo business also played a role.

The U.S. Mortgage Market Index from OpenClose and Mortgage Daily for the week ended Aug. 12 was 185, retreating 7 percent from a week prior.

But compared to year prior, the index — which is determined based on average per-user rate locks by OpenClose clients — has risen by nearly a third.

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From:: Financing