The TovoData Mortgage Demand Index Identifies The States Where Both Purchase and Refinance Remained Strong to End 2021

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The TovoData Mortgage Demand Index Identifies The
States Where Both Purchase and Refinance Remained
Strong to End 2021
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.
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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-q
4-2021/ About TovoData TovoData is a leading
data and analytics company that provides real
estate, property ownership, and mortgage data.
TovoDatas 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/