Tag Archives: Fixed-Rate Mortgage

Despite soft housing news, mortgage rates experienced a moderate increase ahead of next week’s economic policy update from the Federal Open Market Committee. According to Freddie Mac’s latest Primary Mortgage Market Survey, the average 30-year fixed mortgage rate came up to 4.33 percent (0.6 point) for the week ending April 24, up from 4.27 percent in the previous week.

Average fixed mortgage rates declined for the second straight week, bringing them to a six-week low—and easing affordability conditions slightly as the homebuying season gets under way. Frank Nothaft, VP and chief economist for Freddie Mac, said the latest decline fits with a disappointing—though not dismal—construction report showing homebuilding rising at a rate of 2.8 percent in March.

In its weekly Primary Mortgage Market Survey, Freddie Mac reported the 30-year fixed-rate mortgage (FRM) averaging a rate of 4.34 percent (0.7 point) for the week ending April 10, a decline from 4.41 percent last week. A year ago at this time, the 30-year fixed was down nearly a full percentage point: 3.43 percent. Bankrate.com’s weekly national survey showed similar rate changes.

Freddie Mac released Thursday the results of its latest weekly Primary Mortgage Market Survey, showing the average rate on a 30-year fixed-rate mortgage (FRM) coming up to 4.41 percent (0.7 point) for the week ending April 3—a minor increase from 4.40 percent last week. “Mortgage rates were little changed amid a week of light economic reports,” said Frank Nothaft, VP and chief economist for Freddie Mac.

Contract mortgage interest rates decreased slightly from January to February, according to data from the Federal Housing Finance Agency (FHFA). The agency reported late March that the national average contract rate for the purchase of previously occupied homes was 4.30 percent for loans closed in late February, a decline of 0.07 percent. Meanwhile, the average loan amount for all loans was down $8,700 to an average $275,700.

In its weekly Primary Mortgage Market Survey, Freddie Mac reported an increase of 8 basis points in the 30-year fixed average rate, bringing up to 4.40 percent for the week ending March 27. Frank Nothaft, chief economist for Freddie Mac, explained the increase: “Mortgage rates rose following the uptick on the 10-year Treasury note after comments by the Federal Reserve Board Chair Janet Yellen indicated a possible increase in interest rates as soon as early 2015.”

Despite declines in Freddie Mac’s Primary Mortgage Market Survey throughout the month, national data from the Federal Housing Finance Agency (FHFA) shows mortgage rates about a tenth of a percent from December to January. Based on a collection of data from a small monthly survey of lenders, FHFA reports the contract rate for the composite of all mortgage loans closed in January was 4.36 percent, up 11 basis points from December.

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.

MountainView Servicing Group, provider of residential mortgage servicing rights (MSR) transaction and valuation advisory services, announced the offering of yet another Fannie Mae portfolio. Possessing an unpaid principal balance of just less than $760 million, the portfolio includes 100 percent fixed-rate and first-lien product, with 89.7 percent 30-year fixed-rate loans. In addition, the portfolio contains $464 million-about 61 percent-Home Affordable Refinance Program (HARP) servicing.

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.