Despite deterioration in interest rates and the upcoming holiday weekend, home loan originators picked up the pace this week thanks to a bump in refinance activity.
The U.S. Mortgage Market Index from OpenClose and Mortgage Daily, an indication of upcoming loan production, closed out the week ended Sept. 2 at 171.
The index, which is based on average per-user rate locks from OpenClose clients through the seven days ended Thursday at midnight, rose a percent from a week earlier.
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From:: Financing