Tag Archives: Freddie Mac

With mortgage rates surpassing the 7% mark, the MBA reports yet another dip in weekly purchase and refi apps as homebuyers struggle in the face of a depleted housing supply and elevated mortgage rates.

On the heels of Fitch Ratings downgrading the GSEs’ senior unsecured debt ratings to 'AA+' from 'AAA,’ Freddie Mac reports the fixed-rate mortgage climbed nine basis points week-over-week, inching closer to the 7%-mark.

Freddie Mac reports mortgage rates still in excess of the 6.75% mark, as home buyers are increasingly turning to new construction to secure a home, and home builders are responding by picking up the rate of construction.

A slowdown in inflation caused the 30-year, fixed-rate mortgage to take an 18-basis point week-over-week plunge after nearly crossing the 7%-mark the week prior.

A new report from NAR shows existing-home sales dipped 3.3% from May, while the median existing-home price for all housing types reached its second-highest mark of all time in June.

Nearing levels last recorded in November 2022, Freddie Mac reports the fixed-rate mortgage rose 15 basis points week-over-week and edged closer to the 7%-mark.

Usage by financial institutions increased by 46% year-over-year from approximately 6 billion scores used to 8.8 billion scores. Usage by banks and thrifts increased by 13.5% and usage by credit card issuers increased by over 18%.

“This upward trend is being driven by a resilient economy, persistent inflation, and a more hawkish tone from the Federal Reserve,” said Freddie Mac Chief Economist Sam Khater.

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.

After a three-week slide, Freddie Mac reports the fixed-rate mortgage rose four basis points week-over-week, and despite affordability headwinds, buyers have driven new home sales to levels seen in more than 12 months.