DALLAS — (Feb. 27, 2017) Despite a four-day holiday week, there was a healthy ascension in new refinance business. New jumbo activity had the strongest week-over-week increase.

The U.S. Mortgage Market Index from OpenClose and Mortgage Daily was 130 in the week that ended on Feb. 24, which included Presidents Day.

Compared to the prior week, the index — an indication of upcoming originations based on average per-user OpenClose rate-lock volume — was up 5 percent.

Source: Mortgage Daily