A week-over-week slowdown in refinancing activity helped pull down overall new mortgage activity. But one category — jumbo business — turned positive for the week.
An indication of upcoming residential loan originations, the U.S. Mortgage Market Index from OpenClose and Mortgage Daily, was 162 in the week ended Oct. 7.
New loan activity declined 9 percent from the previous seven-day period. But compared to the same week last year, new business has improved by 15 percent.
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From:: Financing