New mortgage activity increased for the second consecutive week likely due to anticipation of a rate hike next week by the Federal Reserve.
In the seven-day period that concluded on Dec. 9, the U.S. Mortgage Market Index from Mortgage Daily and OpenClose came in at 157.
The index, an indication of upcoming originations based on average per-user rate locks by OpenClose clients, climbed 22 percent from a week prior.
Source: Mortgage Daily
