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The Tovodata Mortgage Demand Index Identifies The States Where Both
1888PressRelease - The South and West remain hot spots for mortgage demand, while parts of the Midwest and East saw demand increase over the fourth quarter of 2021.
Newport Beach, California - Today TovoData, the leading provider of multi-sourced real estate, mortgage and property ownership data sets spanning 100% of U.S. residential properties, released its Quarterly Mortgage Demand Index that shows broader demand for refinancing mortgages across states and strong, steady demand for purchase mortgages.
A Mortgage Demand Index (MDI) of 100 indicates that demand in a state is on par with the nation. In the fourth quarter of 2021, 17 states had a TovoData MDI over 100 and 39 had an MDI over 75. The third quarter had 18 states with an MDI over 100 and 30 states with an MDI of 75 or more. The top 10 states in the fourth quarter include eight of the same states from last quarter. Alaska and Alabama moved up to the top 10 ranking this quarter, replacing Arizona and Georgia. Arizona and Georgia ranked eleventh and twelfth with overall MDIs of 119 and 118, respectively.
“What we saw in the 4Q 2021 was a mortgage ...
... industry finishing strong,” said Drew Warmington, CEO of TovoData and iLeads.com. “With this new year, we see headwinds forming, but the current trend implies 4% year-over-year growth in total originations for the first quarter of 2022.”
Top 10 States by TovoData MDI Increase: 4Q 2021
Across all states, 40 states (including Washington DC) had an increase in their TovoData MDI from the third quarter to the fourth quarter of 2021, indicating a general rise in mortgage demand across the nation. Twenty-nine of these states had a double-digit TovoData MDI increase over the quarter. Alaska was the top state by quarter-over-quarter MDI change, at 33, followed by South Dakota and Mississippi with 24-point MDI increases for each state.
TovoData Purchase Mortgage Demand Index: Map of Purchase Mortgage Demand 4Q 2021
Download the complete TovoData Mortgage Demand Index report detailing both purchase and refinance demand here: https://tovodata.com/mortgage-demand-index-q4-2021/
About TovoData
TovoData is a leading data and analytics company that provides real estate, property ownership, and mortgage data. TovoData’s property data is available via its real estate API, bulk, match & append and marketing lists. Leading mortgage lenders, insurance providers, direct marketers, and real estate service providers look to TovoData for the most current, accurate data to fuel their apps, SaaS and business. You can find more information about the company at TovoData.com, including free access to its real estate APIs.
About The TovoData Mortgage Demand Index
The TovoData Mortgage Demand Index (MDI) measures the quarterly concentration of demand for new mortgages based on lead activity for purchase and refinance mortgages by state. The TovoData MDI is also produced as two subindices – the Purchase MDI and the Refinance MDI. The MDI serves as a predictive indicator for the concentration of mortgage originations across states in the next quarter. An index value of 100 means mortgage demand in a state is on par with the nation during the quarter. An index value above 100 means mortgage demand in a state is stronger than the nation during the quarter and an index value below 100 means mortgage demand in a state is weaker than the nation during the quarter.
https://tovodata.com/
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