Purchase financing activity was out front of a week-over-week gain in new mortgage business. Government-insured share, meanwhile, was at its widest level in six months.

The U.S. Mortgage Market Index from Mortgage Daily, an indication of upcoming originations based on rate-lock activity at OpenClose, was 131 in the week ended Jan. 26.

Compared to the week that included the Martin Luther King Jr. holiday, the index climbed 18 percent. No adjustments were made to the index for the holiday week.

Source: Mortgage Daily