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fixed-rate mortgages (FRMs)

U.S. Mortgage Apps Rise Nearly Six Percent

Mortgage Applications

On the heels of news that mortgage rates are hitting, in some cases, 16-month lows, mortgage applications increased 5.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Oct. 10, 2014.Click to continue

Low and Stable Mortgage Rates Remain as QE Begins Wind Down

Mortgage Rates/Credit: Comstock Images

Rates on the most popular types of mortgages declined for a second consecutive week according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages (FRMs) fell by five basis points (0.05 percent) to 4.19 percent. Conforming 5/1 Hybrid ARM rates decreased by one basis point, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.22 percent.Click to continue

FHFA: Rates Plateau in August

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Nationally, interest rates on conventional purchase-money mortgages decreased slightly from July to August, according to several indices of new mortgage contracts, according to the Federal Housing Finance Agency (FHFA). The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 4.08 percent for loans closed in late August, down one basis point from 4.09 percent in July. Click to continue

HSH.com: Rates See Week of Mixed Results

House For Sale/Credit: Jupiterimages

Rates on the most popular types of mortgages were mixed this week, according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages (FRMs) rose by three basis points (0.03 percent) to 4.28 percent. Conforming 5/1 Hybrid ARM rates decreased by two basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.22 percent.Click to continue

Which Way is Housing Really Moving?

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The progress of the housing market appeared to continue on a two-steps-forward/one-step-back trajectory, with forward-looking news of the Federal Reserve’s decision to finally move away from tapering and a rise in average fixed mortgage rates coupled with a housing starts data that saw a double-digit percentage drop.Click to continue

Rates Hold Steady, Remain Near Four Percent Mark

House Keys/Credit: Digital Vision

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed-rate mortgages (FRMs) holding largely steady for the third straight week amid light economic reports. This week, the 30-year fixed-rate mortgage (FRM) averaged 4.10 percent with an average 0.5 point for the week ending Sept. 4, unchanged from last week. A year ago at this time, the 30-year FRM averaged 4.57 percent. Also this week, the 15-year FRM averaged 3.24 percent with an average 0.5 point, down from last week when it averaged 3.25 percent.Click to continue

Mortgage Rates Hit Seven-Month Low

House Money/Credit: Comstock

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed-rate mortgages (FRMs) dipping further following a decline in Treasury yields as the economic growth for the first quarter came in well below market expectations. The 30-year FRM averaged 4.21 percent, with an average 0.6 point for the week ending May 8, 2014, down from last week when it averaged 4.29 percent. A year ago at this time, the 30-year FRM averaged 3.42 percent.  At 4.21 percent, the 30-year rate is at its lowest point since the week of Nov.Click to continue

HSH.com: Fixed-Rates Drop to 4.31 Percent

Keys to Homeownership Pic

Rates on the most popular types of mortgages eased down and continued to confound expectations, according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages (FRMs) fell by seven basis points (0.07 percent) to 4.31 percent. Conforming 5/1 Hybrid ARM rates decreased by just two basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.14 percent.Click to continue

Fixed-Rates Drop Slightly to 4.32 Percent

Home Equity/Credit: Comstock

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed-rate mortgages (FRMs) moving down slightly after last week's uptick, and remaining within range of average fixed rates for the first quarter of 2014. The 30-year FRM averaged 4.32 percent with an average 0.6 point for the week ending March 20, 2014, down from last week when it averaged 4.37 percent. A year ago at this time, the 30-year FRM averaged 3.54 percent.Click to continue

The Increasing Importance of Scale in the Home Mortgage Space

Homes For Sale

Since the early 1980s, interest rates on 15-year and 30-year fixed-rate mortgages (FRMs) have trended downward, eventually reaching lows under 3.5 percent in early 2013. This trend generated multiple periods of high refinancing volume, accelerated a historic increase in securitization, and created mega-banks such as Wells Fargo, JP Morgan Chase and Bank of America, which grew to dominate the mortgage securities industry.Click to continue