Refinances appear to be cooling off after volume levels decreased in August, while mortgage rates rose for three consecutive months through July, according to the Federal Housing Finance Agency's August 2015 Refinance Report.
Read More »Mortgage Rates Lower Following Fed’s Hike Deferment
Mortgage rates lowered to 3.86 percent for the week ending September 24, 2015 after the Federal Reserve decided to keep interest rates near zero last week.
Read More »Home Prices Rise 6.9 Percent in July
Low mortgage rates and stronger consumer confidence are driving home sales and home prices upward, according to CoreLogic's July 2015 Home Price Index Report.
Read More »Mississippi Ranked Among Best States to Get a Mortgage; New York Ranked Among Worst
Consumers that are looking to purchase a home must consider the varying mortgage rates and home prices in different states. GOBankingRates recently released a report, ranking all the states according to where it's easiest and cheapest to get a mortgage. The company reviewed all 50 states based on the local rates offered on 15-and 30-year fixed-rate mortgages in the first quarter of 2015, weighted with the average home listing price in the state.
Read More »FOMC Meeting Deems Economy Unprepared for a Rate Increase
Although Federal Reserve officials determined that economic activity is expanding moderately and job gains are increasing, the federal funds rate will remain the same at a target range of 0 to ¼ percent, according to the recent Federal Open Market Committee (FOMC) June meeting.
Read More »Mortgage Rates Reach New Highs for 2015
The average fixed mortgage rates have reached new 2015 highs, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS). According to the survey, the 30-year fixed-rate mortgage (FRM) averaged 4.08 percent with an average 0.6 point for the week ending July 2, 2015. This is an increase from last week when it averaged 4.02 percent.
Read More »Freddie Mac Mortgage Rates Normalize After Last Week’s Jump
In Freddie Mac’s most recent Primary Mortgage Market Survey (PMMS) the rates for average fixed mortgages dropped from last week’s unusual high. The Government-Sponsored Enterprise reported that the 30-year fixed rate mortgage (FRM) averaged 4.0 percent with an average 0.7 point for the week ending June 18, 2015.
Read More »Freddie Mac Posts Upward Trending Mortgage Rates
In their Mortgage Market Survey (PMMS), Freddie Mac found that mortgage rates inched to the highest levels seen in nearly a month for the week ending May 7, 2015. Len Kiefer, deputy chief economist at Freddie Mac, attributes the rise in part to a selloff in German bonds that drove U.S. Treasury yields above 2.2 percent.
Read More »Freddie Mac Finds Mortgage Rate Drop Amid Underwhelming Job Growth
Variable-rate mortgages were down as well. According to Freddie, 5-year Treasury-indexed hybrid adjustable-rate mortgages averaged 2.83 percent this week, down from last week’s 2.92 percent. A year ago, the 5-year ARM averaged 3.09 percent. However, 1-year Treasury-indexed ARMs maintained at 2.46 percent, almost unchanged from a year ago.
Read More »Zillow’s 30-Year Fixed Mortgage Rate Dips After Hitting 13-Week High
The current 30-year fixed mortgage rate on Zillow mortgages has taken a slight dip down to 3.76 percent after reaching a 13-week high of 3.85 percent on Tuesday.
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