Government activity led an increase in new weekly mortgage business. Excluded from the rally, though, were jumbo and adjustable-rate mortgages.
The U.S. Mortgage Market Index from Mortgage Daily, a barometer of pending mortgage transactions, was 152 in the week ended Oct. 6.
A 14 percent increase was made versus the for the index, which is based on average per-user rate-lock volume by clients of OpenClose.
Source: Mortgage Daily