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Home >> Tag Archives: Mortgage Rates

Tag Archives: Mortgage Rates

Mortgage Rates Hover Heading into Holiday Weekend

Mortgage Rates Hover Heading into Holiday Weekend

Having hit their lowest level of 2014 last week, mortgage rates barely budged in the latest market report from Freddie Mac. The company reported Thursday the average interest rate for a 30-year fixed-rate mortgage (FRM) was 4.10 percent (0.5 point) for the week ending August 28, unchanged heading into the Labor Day holiday.

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Long-Term Mortgage Rates Fall to Year-Low

Long-Term Mortgage Rates Fall to Year-Low

Average fixed mortgage rates drifted down again this week, sinking to their lowest level so far this year. Freddie Mac reported Thursday that the average fixed interest rate for a 30-year fixed-rate mortgage (FRM) was 4.10 percent (0.5 point) for the week ending August 21, down 2 basis points from last week's average. The previous 2014 low was 4.12 percent, first seen in late May and then again three more times throughout the summer.

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Mortgage Apps Rise in Latest Survey

Mortgage Apps Rise in Latest Survey

The Mortgage Bankers Association (MBA) reported a 1.4 percent seasonally adjusted bump in application volumes for the week ending August 15, a partial reversal from the 2.7 percent decline reported the week prior. While last week's results were lifted by improvement in applications for conventional mortgages, they were also weighed down by a 5.9 percent decrease in applications for government mortgages.

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Fixed Mortgage Rates Sink Slightly

Fixed Mortgage Rates Sink Slightly

The average rate for 30-year fixed-rate mortgages (FRMs) dropped to a year-low 4.12 percent with an average 0.6 point for the week ending August 14, according to Freddie Mac, down from 4.14 percent from the week ending August 7 and from 4.40 percent from the same week in 2013.

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Atlanta Lender to Pay $19.3M in Alleged Bait and Switch

Atlanta Lender to Pay $19.3M in Alleged Bait and Switch

The Consumer Financial Protection Bureau has targeted an Atlanta-based online lender to pay up for its role in an alleged bait and switch scheme. AmeriSave, its affiliate, Novo Appraisal Management Companies, and the CEO/owner of both companies, Patrick Markert, were penalized for misleading consumers by advertising fraudulent low rates and then failing to honor those rates once the consumers were locked in.

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Mortgage Rates Remain Stuck

Mortgage Rates Remain Stuck

Nearly three months after first settling into the 4.10 percent to 4.20 percent range, long-term fixed mortgage rates continue to show little movement. According to Freddie Mac's weekly Primary Mortgage Market Survey, the 30-year fixed mortgage rate this week came to an average 4.14 percent (0.7 point), up slightly from 4.12 percent in the last survey.

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Mortgage Apps Down for Second Straight Month

Mortgage Apps Down for Second Straight Month

According to data reported by the Mortgage Bankers Association (MBA) and compiled by Capital Economics, mortgage application volumes slipped an additional 3.4 percent in July following June's 0.1 percent decline. Declines were nearly even in both purchase loan volumes, which fell 3.6 percent, and refinances, which were down 3.3 percent.

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Mortgage Rates Continue to Hold

Mortgage Rates Continue to Hold

Freddie Mac reported this week in its Primary Mortgage Market Survey that mortgage rates have changed very little this week in line with the Federal Reserve's monetary policy. The stubbornness among mortgage rates has been present since the middle of May 2014 and will likely continue into 2015, or until the Fed allows rates to rise.

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Refinancing Falls Further; Cash-Outs Tick Up

Refinancing Falls Further; Cash-Outs Tick Up

After fizzling out over the past several quarters, the post-recession refinance boom officially ended in the quarter, according to data from Freddie Mac. The mortgage behemoth released on Tuesday the results of its quarterly refinance analysis for Q2, showing that refinancing fell in the last three months to below 50 percent of total mortgage activity as rising interest rates have stifled demand.

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Mortgage Application Volumes Pick Up

Mortgage Application Volumes Pick Up

After experiencing a post-holiday decline, applications for home mortgages picked up again last week, the Mortgage Bankers Association (MBA) reported. MBA's Market Composite Index, a weekly measure of mortgage loan application volumes, bumped up 2.4 percent on a seasonally adjusted basis for the week ending July 18, the group said.

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