Tag Archives: Bankrate

Freddie Mac's Primary Mortgage Market Survey shows the average 30-year fixed rate staying put at 4.57 percent (0.8 point) for the week ending September 12.

Continued speculation surrounding the Federal Reserve├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós bond purchase program drove long-term mortgages rates down this week, according to reports from Freddie Mac and Bankrate.com. Frank Nothaft, VP and chief economist at Freddie Mac, noted the decrease in fixed rates was likely the result of disappointing numbers for new home sales in July. While Bankrate also pointed to new home sales as a factor in this week's rate movements, developments abroad may have figured in, as well.

Fixed mortgage rates jumped this week as markets awaited the release of minutes from the Federal Open Market Committee's (FOMC) July meeting, which contained hints of when the Federal Reserve might start reducing its bond purchases. According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 4.58 percent (0.8 point) for the week ending August 22, up from last week's 4.40 percent. Meanwhile, Bankrate.com reported a two-year high for the 30-year fixed average in its own weekly survey.

Having spent the last several months bouncing around, average fixed mortgage rates were little changed over the last week as market speculation settled.

It was a mixed week for mortgage rate reports following the release of July's employment numbers, which showed job growth coming in below the market consensus forecast.

Mortgage closing costs are up 6 percent over the past year, according to a report from Bankrate.com. The average closing cost across the United States rose over the year to $2,402. Origination fees increased 8 percent to $1,730--accounting for the bulk of the increase in closing costs--while third-party fees rose 1 percent to $672. In terms of highest average closing costs, Hawaii took the top spot with an average of $2,919. It was joined in the top five by Alaska, South Carolina, California, and New Mexico.

According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 4.39 percent (0.7 point) for the week ending August 1.

Mortgage rates backed down for the second consecutive week, according to reports from Freddie Mac and Bankrate.com. Freddie Mac's Primary Mortgage Market Survey put the 30-year fixed-rate average at 4.31 percent (0.8 point) for the week ending July 25, down from last week's 4.37 percent. Meanwhile, Bankrate's weekly national survey showed the 30-year fixed falling to 4.54 percent and the 15-year fixed dropping to 3.61 percent. The downward trend may not last, however.

Mortgage rates continued to trend higher last week following last week's release of the June employment report.

Mortgage rates shot up in the last week following remarks from the Federal Reserve that it may be tapering its bond purchases later this year. According to Freddie Mac's Primary Mortgage Market Survey, the average 30-year fixed-rate mortgage (FRM) rose to 4.46 percent (0.8 point) for the week ending June 27, an increase from only 3.93 percent last week and the highest figure since the week of July 28. The weekly increase is the largest since April 1987.