ICE Unveils Transaction-Based Indices For Residential Mortgage Interest Rates – NMP Skip to main content

ICE Unveils Transaction-Based Indices For Residential Mortgage Interest Rates

Navi Persaud
Oct 18, 2021

Intercontinental Exchange Inc. launched its suite of U.S. residential mortgage locked rate indices.

The new indices will be calculated daily and will track the average interest rate of new residential home loan applications processed by ICE Mortgage Technology.

By using anonymized and aggregated data from ICE, the locked rate indices are calculated from actual loan applications. The company believes that this provides a more comprehensive, accurate, and timely reflection of current residential mortgage interest rates.

“Observable loan applications provide a wealth of information and can be important benchmarks for loan originators, banks, and participants in the mortgage-backed security market,” said Lynn Martin, president of Fixed Income and Data Services at ICE. “By using a data-driven approach and leveraging the unique strengths of ICE’s mortgage technology and data services teams, we’re bringing a tremendous amount of new data to the market that can offer customers both strategic intelligence and help them manage risk.”

The ICE U.S. Residential Mortgage Rate Lock Index Series tracks 10, 15, 20, and 30-year first-lien and subordinated mortgage applications on both single-family and multi-family properties. The indices include new purchase, construction, and refinance applications for conventional mortgage loans, jumbo loans, and those submitted under U.S. government programs, including the Federal Housing Administration, U.S. Department of Veterans Affairs and the Rural Housing Service of the U.S. Department of Agriculture. The indices are calculated each business day and published the following morning.

In addition to the ICE U.S. Residential Mortgage Rate Lock Composite Index, ICE launched sub-indices focused on attributes including product type (Conforming or Jumbo 30-year fixed rate), loan purpose (purchase, construction or refinance), and borrower attributes (FICO score, LTV, among others).

Oct 18, 2021
More from
Banks And Investors Stake Claim To Their Domain

December 22, 2021, Valencia’s fully digital auction house will auction off .finance and .financial domain names.

Dec 02, 2021
Why Short-Term Closing Fixes May Be Holding Lenders Back

2020 became a record year for eClosing and eNote adoption

Dec 01, 2021
Servion Taps Sagent For Consumer-First Servicing Tech Stack

A 7-year deal between Servion Mortgage and Sagent will equip Servion with Sagent's tech stack for performing, non-performing, and consumer experience.

Nov 29, 2021
OptiFunder Secures $25 Million In Capital

OptiFunder, a warehouse management system provider for mortgage originators, raised $25 million in additional capital lead by Arthur Ventures, a growth capital firm focused on high-growth, founder-led and capital efficient B2B software companies.

Nov 23, 2021
Guaranteed Rate Adds New Chief Product And Technology Officer

Guaranteed Rate named Dr. Ramesh Sarukkai as the company’s new chief product and technology officer.

Industry News
Nov 22, 2021
Fintech Mortgage Proven To Reduce Racial Bias In Lending

Technology-based Fintech mortgage may be the answer to reducing, and ultimately eliminating, racial bias and discrimination in lending.

Analysis and Data
Nov 19, 2021