As expected, new home-lending activity bounced back from the holiday week. Refinance and adjustable-rate business were the biggest beneficiaries, while jumbo activity took the biggest hit.

Mortgage Daily’s U.S. Mortgage Market Index, a forecasting tool for originations based on average per-user rate-lock volume by OpenClose clients, was 129 in the week ended Dec. 2.

The index, which is not adjusted for seasonal factors, ascended 21 percent versus the previous week. The increase reflects the prior week’s subdued activity from the Thanksgiving holiday.

Source: Mortgage Daily