Not only has new mortgage business increased for each of the past four weeks, but the pace of activity now stands at the highest level in eight months.

Mortgage Daily’s U.S. Mortgage Market Index, which is based on average per-user rate locks by OpenClose clients, was 187 in the week ended March 17.

That turned out to be the highest level for the index, a gauge of upcoming loan originations, since the week ended July 29, 2016, when it came in at 199.

Source: Mortgage Daily