rospective mortgage origination activity ascended from the holiday week, with adjustable-rate mortgages seeing the strongest gain. Lending activity for veterans climbed to the highest level in over four months.
During the seven days that concluded on Oct. 20, the U.S. Mortgage Market Index from Mortgage Daily, which is determined based on rate-lock volume at OpenClose, was 149.
Compared to the previous seven-day period that included Columbus Day, the index jumped 16 percent. The index, a barometer of prospective loan closings, is not adjusted for seasonal factors.
Source: Mortgage Daily