Just one week after plummeting to an all-time low, the U.S Mortgage Market Index rebounded, although it still remains well below recent norms.

In the week ended Jan. 6, the index — a gauge of upcoming originations based on average per-user rate locks by OpenClose clients — landed at 99.

That left the MMI 23 percent higher than the previous week, when it sank to the lowest level on record since it was launched  in December 2009.

Source: Mortgage Daily