New home-lending activity strengthened during the past week, with both refinancing and home-purchase financing showing a gain. Jumbo business gained the most.
In the week that ended on Feb. 3, the U.S. Mortgage Market Index from OpenClose and Mortgage Daily, which is not adjusted for seasonal factors, came in at 133.
The MMI, an indication of upcoming originations based on rate-lock volume by clients of OpenClose, rose nearly 12 percent from the report during the previous week.
Source: Mortgage Daily