Optimal Blue has created Optimal Blue Mortgage Market Indices to provide consumers and mortgage professionals with greater visibility into key drivers of mortgage pricing. OBMMI was designed with the aim of providing an unprecedented level of daily insight into mortgage transactions.
Based on actual locked rates with consumers across more than 30 percent of mortgage transactions across the U.S., OBMMI offers a comprehensive, accurate, timely, and interactive analysis of mortgage pricing.
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“This is an important milestone in Optimal Blue’s transformation from a pricing engine to a digital mortgage marketplace,” said Scott Happ, CEO of Optimal Blue. “We are uniquely positioned to introduce these new benchmarks and trust they will be of value to a broad range of participants looking for transaction-based mortgage price data.”
In this groundbreaking inaugural release of OBMMI, Optimal Blue provides multiple mortgage rate indices developed around the most popular mortgage loan products and specific borrower attributes. Each of the 16 mortgage indices are represented with the national average of mortgage rates locked by consumers each day and include the change from the previous day.
Indices can be compared through compelling interactive and configurable visualizations. For example, users can easily select pre-defined or custom-time periods to isolate specific market movements or illustrate unique trends, such as the well documented jumbo-conventional spread inversion that exists.
“Complete with the industry’s largest product and pricing library and backed by an unparalleled commitment to accuracy, Optimal Blue’s platform ensures that consumers are presented with the best-fit financing alternatives and that lenders consistently deliver the best price,” said Bob Brandt, vice president of marketing and strategic alliances at Optimal Blue. OBMMI will help both audiences better understand trends and pricing in the mortgage market.”
Optimal Blue operates a secondary marketing automation platform.
