Mortgage Demand Index:
The Pulse of the Mortgage Market Q4 2021 Results
The fourth quarter 2021 TovoData MDI results show broader demand for refinance mortgages across states and strong, steady demand for purchase mortgages. The South and West remain hot spots for mortgage demand, while parts of the Midwest and East saw demand increase over the quarter.
The highest overall MDIs were in Mississippi, Arkansas, and Louisiana. Due to increased refinance demand, Delaware had the highest fourth quarter 2021 MDI in the Northeast, at 105 and Indiana was the top state in the in the Midwest with a TovoData MDI of 96.
The TovoData
Mortgage Demand Index ( MDI )
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 TovoData MDI serves as a predictive indicator for the anticipated concentration of closed mort- gages across states in the next quarter.
An index value of:
- 100 means mortgage demand in a state is the same as the nation during the quarter.
- >100 means mortgage demand in a state is stronger than the nation during the quarter.
- <100 means mortgage demand in a state is weaker than the nation during the quarter.
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