MBS data provider Mortgage Maxx launched this week a new index tracking residential mortgage application activity in key regions of the U.S. in real time. The new index, called the theMAX, is published the first business day of the week and measures mortgage activity for the just concluded week. It offers market participants an accurate and predictive measure of current mortgage application levels as well as future mortgage pay-offs.
The coverage includes California, Arizona, Florida, Illinois, Indiana, Michigan, and Ohio. All mortgage lenders operating in sampled areas are included in the index.