Tag Archives: Freddie Mac

For the second consecutive week, mortgage rates have dipped, providing a much-needed boost to the housing marketplace and sparking a rise in overall mortgage app volume.

Fannie Mae’s Jake Williamson and Appraisal Institute President Craig Steinley share their perspective with MReport about how the industry is working to improve the appraisal process in 2023.

The 2023 mortgage market began on a positive note, as Freddie Mac reported a week-over-week slide in mortgage rates leading to an uptick in refinance apps.

Freddie Mac reports that 2023 has begun with a second consecutive week of mortgage rate hikes, with app activity sinking to a quarter-century low as high rates continue to weaken the housing market.

Elevated mortgage rates continue to accentuate affordability concerns, keeping many prospective buyers out of the market. Meanwhile, the MBA reports application volume slid to close out 2022.

First American reports that between September 2022 and October 2022, rose nearly 9% month-over-month, with the rapid annual decline in affordability driven by a 12% annual increase in nominal house prices.

Mortgage rates trended upward to close out the year, as Freddie Mac’s Chief Economist forecasts the housing will remain weak throughout the winter.

Freddie Mac reports the fixed-rate mortgage sliding for the sixth straight week, with the downward trend in rates resulting in a rise in refis, offsetting a week-over-week decrease in purchase activity.

Fannie Mae and Freddie Mac will now need Federal Housing Finance Agency approval—and possibly public comment—before offering new products, in order to ensure safety and soundness standards.

With the dip in mortgage rates now surpassing a month, a slight uptick in mortgage apps has led to a recent stabilization in purchase demand.