Freddie Mac released Thursday its Primary Mortgage Market Survey for the week ending February 20, showing the average 30-year fixed-rate mortgage (FRM) coming up 5 basis points to a rate of 4.33 percent (0.7 point). This time last year, the 30-year FRM averaged 3.56 percent. Frank Nothaft, VP and chief economist for Freddie Mac, said the change reflects market forecasts of what the Federal Reserve’s next move might be.
Read More »Mortgage Rates Up in First Increase of 2014
Freddie Mac released Thursday its weekly Primary Mortgage Market Survey, which shows the 30-year fixed-rate mortgage (FRM) moved up to 4.28 percent (0.7 point) for the week ending February 13. In its own national survey, Bankrate.com recorded the 30-year fixed average at 4.48 percent, while the 15-year fixed rose slightly less at 3.53 percent. Analysts for the finance site said it was Janet Yellen's first testimony as the head of Federal Reserve that provided the week's lift.
Read More »Another Week, Another Drop in Mortgage Rates
In its weekly published Primary Mortgage Market Survey, Freddie Mac put the average 30-year fixed mortgage rate at 4.23 percent (0.7 point) for the week ending February 6, down from 4.32 percent previously. Frank Nothaft, VP and chief economist for Freddie Mac, once again pointed to weaker housing data as a factor in this week's rate changes, noting declines in December pending home sales and a negative contribution to GDP from fixed residential investment.
Read More »Mortgage Rates Fall as Market Indicators Weaken
The average interest rate on the 30-year fixed-rate mortgage (FRM) came down to 4.32 percent (0.7 point) for the week ending January 30, Freddie Mac reported in its Primary Mortgage Market Survey.
Read More »Demand for Adjustable-Rate Loans Expected to Rise
As fixed interest rates continue on their upward path, initial-period rates on adjustable-rate mortgages (ARMs) remain near historic lows--a stat the Freddie Mac anticipates will factor into borrowing decisions in the year ahead. "As longer-term interest rates rise, ARMs with their lower initial interest rates will become more appealing to loan applicants," said Frank Nothaft, VP and chief economist for Freddie Mac. "We are expecting ARMs to gradually gain back some favor with mortgage borrowers."
Read More »Credit Standards Relax at Year-End
After loosening steadily for several months, credit standards for mortgage loans ended 2013 at their lowest level all year, according to the December Origination Insight Report from Ellie Mae.
Read More »Interest Rates Rise to Open New Year
Mortgage rates began 2014 with a round of increases, kicking off a trend many experts believe will continue through the rest of the year. Freddie Mac's weekly Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage (FRM) averaging 4.53 percent (0.8 point) for the week ending January 2, up from the last week of 2013, when it averaged 4.48 percent. Meanwhile, Bankrate.com reported the 30-year fixed at 4.69 percent, a gain of 6 basis points.
Read More »Mortgage Rates Little Changed in Wake of Taper Announcement
For all the Sturm und Drang surrounding discussions of the Federal Reserve slowing down its monthly asset purchases, mortgage rate movements were somewhat subdued this week leading up to Wednesday's announcement of cuts to the stimulus program. Freddie Mac reported small rate jumps for the week ending December 19, with the 30-year fixed-rate mortgage (FRM) average inching up to 4.47 percent (0.7 point) from 4.42 percent previously. Last year, the 30-year FRM averaged 3.37 percent.
Read More »Light Economic Data Sparks Little Reaction for Mortgage Rates
Fixed mortgage rates moved down slightly this week, reflecting a lack of much solid news for markets to latch on to. Freddie Mac's Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage (FRM) averaging 4.42 percent (0.7 point) for the week ending December 12, a decrease from 4.46 percent last week. The same time last year, the 30-year FRM averaged 3.32 percent. Bankrate.com reported even smaller changes in its weekly survey. According to the finance site, the 30-year fixed averaged 3.55 percent this week, unchanged from the last report.
Read More »Mortgage Applications Pick Up Following Thanksgiving
Mortgage applications recovered slightly during the first week of December, the Mortgage Bankers Association (MBA) reported. MBA's Weekly Mortgage Applications Survey showed a 1.0 percent increase in loan application volume (seasonally adjusted) for the week ending December 6. The previous survey's results had included an adjustment for the Thanksgiving holiday. Unadjusted, the index increased 43 percent. As applications rose, so did mortgage rates.
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