“Mortgage applications decreased for the seventh time in eight weeks, reaching the lowest level since 1996,” said Joel Kan, MBA’s VP and Deputy Chief Economist. “Last week’s decline was driven by a 5% drop in refinance applications, to the weakest reading since January 2023.”
Read More »Surging Rates Fuel Increase in Adjustable-Rate Mortgage Activity
Among mortgage originations exceeding $1 million in April 2023, adjustable-rate mortgages comprised nearly 50% of the dollar volume, representing a six percentage-point increase from a year earlier.
Read More »Slowing House Price Appreciation Expected to Continue
Having slowed from recent peaks, house price appreciation in all top 50 markets analyzed in the latest study from First American revealed the housing market is adjusting to the decline in affordability as the hot pandemic sellers’ market transitions in favor of homebuyers.
Read More »A Resurgence of ARMs
What does the rise of ARMs indicate for the housing market and which areas are experiencing a higher demand for this mortgage product? Here’s what an analysis found.
Read More »Interest Rate Hikes & the 3 Loan Types Impacted
Sam Khater, Chief Economist at Freddie Mac, examined how rising interest rates are influencing the market, with a handy loan-type breakdown.
Read More »How Risky are ARMs?
The U.S housing market focuses on the stability of the 30-year-fixed-rate mortgage, but what if adjustable-rate mortgages were more secure for the current state of economic uncertainty? In ...
Read More »Mortgage Rates Continue to Sink
According to figures released Thursday by Freddie Mac, the 30-year fixed mortgage rate averaged 3.80 percent (0.6 point) for the week ending December 18, down 13 basis points from last week's survey. Last year, the 30-year fixed-rate mortgage (FRM) averaged 4.47 percent.
Read More »Mortgage Rates Up for Second Week
In its weekly Primary Mortgage Market Survey, Freddie Mac reported the average interest rate for a 30-year fixed-rate mortgage (FRM) slid up to 4.02 percent (0.5 point) for the week ending November 6. It was the first time the 30-year fixed average measured above 4 percent in nearly a month.
Read More »Mortgage Rates Return to Summer Lows
In its weekly Primary Mortgage Market Survey, Freddie Mac reported the average 30-year fixed interest rate came to 4.12 percent (0.5 point) for the week ending October 9, down from 4.19 percent. A year ago, the average 30-year fixed interest rate was 4.23 percent, the same as it was when rates jumped up in mid-September.
Read More »Mortgage Rates Slip on Mixed Housing News
After jumping up last week, mortgage rates were weighed down in the latest measure by mixed housing developments. Freddie Mac released Thursday the results of its Primary mortgage Market Survey, showing the 30-year fixed-rate mortgage (FRM) easing to an average interest rate of 4.20 percent (0.5 point) for the week ending September 25. The 30-year FRM averaged 4.23 percent in the previous week's survey, a four-month high.
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