While fiscal headwinds have held back economic growth, Fannie Mae maintains in its newest outlook that the recovery should pick up the pace in the year's second half.
Read More »Mortgage Rates Rise for 6th Straight Week
According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 3.98 percent (0.7 point) for the week ending June 13, up from 3.91 percent last week.
Read More »Mortgage Application Volume Reverses Downward Trend
After falling throughout May, mortgage application volume rose for the first week of June, according to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey. The survey's Market Composite Index, a measure of loan application volume, increased 5.0 percent for the week ending June 7, MBA reported. Unadjusted, the index rose 16 percent. The previous week's results included an adjustment for the Memorial Day holiday. The increase in application volume came despite continued rises in rates.
Read More »Analysts Forecast Price Gains, Wave Off Bubble Fears
The pace at which home prices are rising should moderate later this year, according to an analysis from Capital Economics.
Read More »More Refinancers Opt to Shorten Loan Terms in Q1
Of borrowers who refinanced during Q1, 28 percent shortened their loan term, Freddie Mac reported--up from 27 percent in Q4 2012. The majority (68 percent) elected to keep the same term as the loan they had paid off, while 3 percent chose to lengthen their loan term. The analysis also found that refinancing borrowers "overwhelmingly" opted for the safety of fixed-rate loans, with more than 95 percent taking that route. Of those who previously had a hybrid adjustable-rate mortgage (ARM), 87 percent chose a fixed-rate loan during the first quarter.
Read More »Mortgage Rates Continue Upward March
According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 3.91 percent (0.7 point) for the week ending June 6, up 10 basis points over last week. Last year at this time, the 30-year FRM averaged 3.67 percent. Meanwhile, Bankrate's weekly national survey had the 30-year fixed rising to 4.1 percent, its highest level since April 2012. The 15-year fixed increased to 3.28 percent, while the 5/1 ARM rose 12 basis points to 2.93 percent.
Read More »Application Volume Stumbles as Rates Recover
According to Capital Economics' data, total mortgage application volume fell 2.0 percent from April to May, the first monthly drop since February and the biggest decline since January.
Read More »Down Payment Percentages See 9.4% Drop from 2011
Though rising mortgage rates may act as a weight on today's increased housing affordability, a report from LendingTree shows down payment percentages continue to decline.
Read More »FHFA: Mortgage Rates Stable in April
The Federal Housing Finance Agency (FHFA) reported a slight bump in contract mortgage interest rates throughout April.
Read More »Mortgage Rates Rocket as Analysts Foresee End to Fed Activity
Encouraging economic data helped lift fixed mortgage rates to their highest level in the past year this week, according to surveys from Freddie Mac and Bankrate.com.
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