Archive for mortgage rates

Mortgage Rates Make Biggest Weekly Jump Since March

Posted by Amanda Fava on July 06, 2017

The 30-year, fixed-rate mortgage (FRM) made its largest week-over-week leap since March, according to Freddie Mac’s Primary Mortgage Market Survey. The 30-year FRM averaged 3.96%, with an average 0.6 point for the week ending July 6 – up from last [Read More]

Mortgage Rates More Or Less Flat Week To Week

Posted by Michael Bates on June 16, 2017

Mortgage rates did not move much this past week, as the benchmark 30-year fixed inched lower and remains at the lowest level in seven months, according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage had a rate of [Read More]

Black Knight: Origination Volume Fell 34% In Q1

Posted by Patrick Barnard on June 05, 2017

Mortgage origination volume fell 34% in the first quarter compared with the fourth quarter, driven mainly by a 45% drop in refinances, according to Black Knight Financial Services’ Mortgage Monitor report. Overall, lenders originated about $372 billion in first-lien mortgages [Read More]

MBA: Applications For Refinances Jumped 11% On Slightly Lower Mortgage Rates

Posted by Patrick Barnard on May 24, 2017

Mortgage application volume jumped 4.4% during the week ended May 19, with most of the increase stemming from an 11% week-over-week spike in applications for refinances, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. It was the [Read More]

Freddie Mac: Mortgage Rates Edged Back Down; 30-Year Still Pinned At Around 4.0%

Posted by Patrick Barnard on May 18, 2017

Mortgage rates edged back down during the week ended May 18, with the average rate for a 30-year, fixed-rate mortgage (FRM) at around 4.02%, down from 4.05% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey. A year [Read More]

Freddie Mac: Mortgage Rates Basically Flat

Posted by Patrick Barnard on May 11, 2017

Mortgage rates held more or less flat during the week ended May 11, with the average rate for a 30-year, fixed-rate mortgage (FRM) at about 4.05%, up slightly from 4.02% the previous week, according to Freddie Mac’s Primary Mortgage Market [Read More]

Gagan Sharma: As Rates Rise, Servicers Must Stand Ready To Mitigate Foreclosure Risk

Written by Patrick Barnard on May 03, 2017

From a servicer perspective, the most important strategy to mitigating risk is to reach out to the borrower as early as possible.

Freddie Mac: Mortgage Rates Back On The Rise

Posted by Patrick Barnard on April 27, 2017

After hitting a low for the year, mortgage rates were back on the rise this week, with the average rate for a 30-year, fixed-rate mortgage (FRM) rising to 4.03%, up from 3.97% the previous week, according to Freddie Mac’s Primary [Read More]

Freddie Mac: Weak Economic Data, Global Tensions Pushed Mortgage Rates Lower

Posted by Patrick Barnard on April 21, 2017

Mortgage rates continued to drop during the week ended April 20, with the average rate for a 30-year, fixed-rate mortgage (FRM) hitting 3.97%, down from 4.08% to reach the lowest mark since November 2016, according to Freddie Mac’s Primary Mortgage [Read More]

MBA: Purchase Applications Fell 3% Heading Into Peak Home Buying Season

Posted by Patrick Barnard on April 19, 2017

Despite the fact that mortgage rates had, on average, decreased for a third straight week, mortgage application volume dipped 1.8% on an adjusted basis during the week ended April 14, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications [Read More]

Freddie Mac: Mortgage Rates Fell Slightly From Last Week

Posted by Patrick Barnard on April 07, 2017

Mortgage rates moved slightly lower during the week ended April 6, with the average rate for a 30-year, fixed-rate mortgage (FRM) falling to 4.10%, down from 4.14% the week prior, according to Freddie Mac’s Primary Mortgage Market Survey. A year [Read More]

Home Prices Increased Again In January; Rising Rates Yet To Slow Appreciation

Posted by Patrick Barnard on March 28, 2017

Home prices keep increasing, but at some point, rising interest rates will impact affordability and cause a leveling off.

S&P/Experian: Rising Interest Rates Not Causing Any Adverse Effects – Yet

Posted by Patrick Barnard on March 27, 2017

The default rate for first mortgages crept up slightly to 0.74% in February, rising from 0.72% in January, according to the S&P/Experian Consumer Credit Default Indices. Still, the default rate for first mortgages was down from 0.84% in February 2016. [Read More]

Freddie Mac: Mortgage Rates Fell Despite Recent Fed Hike

Posted by Patrick Barnard on March 24, 2017

Mortgage rates dipped slightly this week, with the average rate for a 30-year, fixed-rate mortgage (FRM) falling to 4.23%, down from 4.30% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the [Read More]

MBA: Despite Rates Holding Steady, Mortgage Volume Fell 2.7%

Posted by Patrick Barnard on March 22, 2017

Mortgage application volume fell 2.7% on an adjusted basis last week as rates held more or less steady, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. Applications for refinances decreased 3%, while applications for purchases decreased 2%. [Read More]

Consumers’ View Of Housing Market More Favorable In February, Fannie Mae Says

Posted by Patrick Barnard on March 16, 2017

Consumer confidence in housing hit an all-time high in February, according to Fannie Mae’s most recent Home Purchase Sentiment Index (HPSI), part of its National Housing Survey. The index increased by 5.6 percentage points in February to a score of [Read More]

Freddie Mac: Mortgage Rates On The Rise

Posted by Patrick Barnard on March 16, 2017

Mortgage rates took a significant jump during the week ended March 16, with the average rate for a 30-year, fixed-rate mortgage (FRM) rising to 4.30%, up from 4.21% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey. A [Read More]

Fed Raises Rates For First Time This Year; Two More Hikes Expected

Posted by Patrick Barnard on March 15, 2017

FOMC statement was “somewhat disappointing” in that it offered “few hints as to the number or timing of future rate hikes.”

Freddie Mac: Mortgage Rates Saw Significant Jump

Posted by Patrick Barnard on March 09, 2017

Mortgage rates increased significantly during the week ended March 9, with the average rate for a 30-year, fixed-rate mortgage (FRM) at around 4.21%, up from 4.10% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago [Read More]

Mortgage Rate Correlation With The 10-Year Diverges For First Time In 46 Years

Posted by Patrick Barnard on February 17, 2017

Mortgage rates remained more or less in a “holding pattern” for a third straight week this week, with the average rate for a 30-year, fixed-rate mortgage (FRM) at around 4.15%, down slightly from 4.17%, according to Freddie Mac’s Primary Mortgage [Read More]