Archive for mortgage rates

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]

Freddie Mac: Mortgage Rates In Holding Pattern Due To Economic Uncertainty

Posted by Patrick Barnard on February 09, 2017

Mortgage rates this week remained stuck in a holding pattern, with the average rate for a 30-year, fixed-rate mortgage (FRM) hovering at about 4.17%, down slightly from last week when it averaged 4.19%, according to Freddie Mac’s Primary Mortgage Market [Read More]

Freddie Mac: 30-Year Flat After Fed Punts On Hike

Posted by Patrick Barnard on February 02, 2017

Mortgage rates held steady this week, with the average rate for a 30-year fixed rate mortgage (FRM) at 4.19%, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the 30-year FRM averaged 3.72%. As of [Read More]

Freddie Mac: Mortgage Rates Rise For First Time This Year

Posted by Lauren Tyler on January 26, 2017

Mortgage rates rose for the first time in 2017 during the week ended Jan. 26, with the average rate for a 30-year, fixed-rate mortgage (FRM) at 4.19% compared with 4.09% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey. [Read More]

FHFA: Mortgage Rates Increased In December

Posted by Lauren Tyler on January 26, 2017

Nationally, interest rates on conventional purchase-money mortgages increased from November to December, according to the Federal Housing Finance Agency (FHFA). The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.00% for [Read More]

How Will Rising Rate Environment Impact Mortgage Servicing?

Written by Patrick Barnard on January 18, 2017

Unlike the origination side, most people on the servicing side are saying rising rates will help more than they will hurt.

MBA: FHA Rate Cut Boosted Applications For Refinances

Posted by Patrick Barnard on January 18, 2017

A surge in applications for refinances spurred by the Federal Housing Administration’s (FHA) recent rate cut resulted in total mortgage application volume increasing 0.8% on an adjusted basis during the week ended Jan. 13, as shown by the Mortgage Bankers [Read More]

Freddie Mac: Mortgage Rates Fell For A Second Week, But It Likely Won’t Last

Posted by Patrick Barnard on January 12, 2017

Although most analysts fully expect mortgage rates to increase through 2017, the year kicked off with rates moving lower during the first two weeks of January. According to Freddie Mac’s Primary Mortgage Market Survey, during the week ended Jan. 12, [Read More]