The MReport Webcast: Friday 2/27/2015

Mortgage rates are up for the third straight week of February, according to a report released by Freddie Mac on Thursday. However, fixed mortgage rates still remain near late May 2013 lows and numbers released by the Federal Housing Finance Agency on Thursday show mortgage rates on a month-to-month basis are down in January. According to Freddie Mac, the 30-year FRM rose to 3.8 percent from last week’s rate of 3.76 percent.

A year ago at this time, Freddie Mac's 30-year FRM averaged 4.37 percent. However, according to the FHFA, the FRM rate on loans of $417,000 or less was 4.06 percent, a decrease from 4.19 in December. The average interest rate for all mortgages has decreased from 4.0 percent in December down to 3.89 percent in January. The effective interest rate for on all mortgage rates was 4.04 percent in January, down 11 points from December.

Federal Housing Administration Acting Commissioner Biniam Gebre reaffirmed his organization's commitment to America's middle class as well as the role of the Administration and defended the FHA's recent lowering of the mortgage insurance premiums in statement released Thursday. Gebre's statement provides a preview of his upcoming appearance at the Five Star Government Forum on March 18 in Washington, D.C., where he will sit down for a one-on-one interview with Five Star Institute President and CEO Ed Delgado to discuss FHA's recent housing policy changes and the future of the organization.