OptimalBlue Introduces Mortgage Pricing Benchmarking Tool


OptimalBlue is putting the transactional data captured by its secondary marketing automation platform to good use with the introduction of a new online benchmarking tool – Optimal Blue Mortgage Market Indices (OBMMI) – which provides consumers and mortgage professionals with greater visibility into key drivers of mortgage pricing.

This new offering provides an unprecedented level of daily insight into observed mortgage transactions, OptimalBlue claims.

Based on actual locked rates with consumers across more than 30% of all mortgage transactions nationwide, OBMMI offers the most comprehensive, accurate, timely and interactive analysis of pricing ever conducted in the mortgage industry, the firm says in a release.

“This is an important milestone in Optimal Blue’s transformation from a pricing engine to a digital mortgage marketplace,” says 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.”

The new service 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 currently exists.

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